Investing
Chipotle, Under Armour Slip into Wednesday's 52-Week Low Club
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October 26, 2016: Here are four stocks trading with relatively heavy volume among 82 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers by slightly more than 2 to 1.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) lost about 1.6% Wednesday to post a new 52-week low of $4.94 after closing Tuesday at $5.02. The 52-week high is $10.20. Volume of about 12 million was nearly double the daily average of about 6.5 million shares traded. The network equipment maker’s new CEO outlined a turnaround plan this morning.
Chipotle Mexican Grill Inc. (NYSE: CMG) dropped 10.6% on Wednesday to post a new 52-week low of $362.82 against a 52-week high of $658.76. Volume of about 5.1 million was about 5 times the daily average of 1 million. The stock closed at $405.67 on Tuesday night. The restaurant chain has not overcome the E coli debacle and quarterly results showed it.
Under Armour Inc. (NYSE: UA-C) dropped about 3% on Wednesday to post a new 52-week low of $27.52 after closing at $28.37 on Tuesday. The stock’s 52-week high is $96.86. Volume was nearly 6 times the daily average of around 870,000 shares. The company reported weak results Tuesday.
Diplomat Pharmacy Inc. (NYSE: DPLO) lost about 16.9% Wednesday to post a new 52-week low of $24.01 after closing Tuesday at $28.88. The 52-week high is $38.94. Volume of about 3.7 million was about 7 times the daily average of around 580,000 shares traded. The company unexpectedly announced executive changes this morning, including the retirement of president Gary Kadlec.
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