Investing

The 52-Week Low Club for Wednesday

May 18, 2016: Here are four stocks trading with heavy volume among 66 equities making new 52-week lows in Wednesday’s session. NYSE decliners led advancers by about 2 to 1 while Nasdaq advancers led decliners by about 3 to 2.

Target Corp. (NYSE: TGT) fell by about 11% on Wednesday to post a new 52-week low of $65.50 against a high of $85.81 The stock closed at $73.61 on Tuesday night. Volume was more than 6  times the stock’s daily average of around 5.2 million. The big box store lowered guidance this morning after missing sales estimates.

Nordstrom Inc. (NYSE: JWN) posted a new 52-week low on Wednesday. Shares traded at a low of $36.23, down about 3.8%, after closing at $37.65 on Tuesday. The stock’s 52-week high is $80.23. Volume was about 60% higher than the daily average of around 4.2 million shares. The department store had no specific news Wednesday.

Macy’s Inc. (NYSE: M) dropped by about 1.5% on Wednesday to post a new 52-week low at $29.94 after closing at $30.40 on Tuesday. The stock’s 52-week high is $73.61. Daily volume rose to about 35% more than the average of about 5 million shares. Another big department store that had no specific news on Wednesday, and suffers as well from not being a home improvement store.

Limited Brands Inc. (NYSE: LB) dropped about 3.6% on Wednesday to post a new 52-week low of $62.99 against a 52-week high of $101.11. The stock closed at $65.37 on Tuesday night. Volume was more than double the stock’s daily average volume of around 2.8 million shares. The clothing chain is not expected to live up to expectations when it reports earnings after the closing bell Wednesday.

Notice the pattern? All four of today’s low-club members are retail stocks.

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