May 10, 2016: Here are four stocks trading with relatively heavy volume among 50 equities making new 52-week lows in Tuesday’s session. NYSE advancers led decliners by about 3 to 1hile Nasdaq advancers led decliners by roughly 2 to 1.
LendingClub Corp. (NYSE: LC) dropped by about 13.9% on Tuesday to post a new 52-week low at $3.98 after closing at $4.62 on Monday. The stock’s 52-week high is $19.48. Daily volume rose to around 10 times the average of about 8.1 million shares. The online lender replaced its CEO Monday morning and announced that it would delay the release of its official quarterly report by up to a week.
Nokia Corp. (NYSE: NOK) fell by about 7.6% on Tuesday to post a new 52-week low of $5.26 against a high of $7.63. The stock closed at $5.69 on Monday night. Volume was about 4 times the stock’s daily average of around 12 million. The company reported earnings that fell short of expectations on higher-than-expected expenses related to the company’s acquisition of Alcatel-Lucent.
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The Gap Inc. (NYSE: GPS) dropped about 13% on Tuesday to post a new 52-week low of $18.98 against a 52-week high of $39.59. The stock closed at $21.81 on Monday night. Volume was more than 4 times the stock’s daily average volume of around 2.8 million shares. The retail operator reported dismal sales after markets closed Monday.
Western Digital Corp. (NASDAQ: WDC) posted a new 52-week low on Tuesday. Shares traded at a low of $36.21, down about 2%, after closing at $36.96 on Monday. The stock’s 52-week high is $99.76. Volume was about 40% above the daily average of around 6 million shares. The company’s acquisition of SanDisk was cleared by the Chinese government Tuesday, clearing the way for the deal’s closure.
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