Investing

Chesapeake, Weatherford Mired in Wednesday's 52-Week Low Club

February 7, 2018: Here are four stocks trading with heavy volume among 92 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by less than 4 to 3 and on the Nasdaq, advancers led decliners by more than 4 to 3.

Chesapeake Energy Corp. (NYSE: CHK) dropped 10.5% Wednesday to post  a new 52-week low of $2.80 after closing at $3.13 on Tuesday. The stock’s 52-week high is $6.65. Volume was around 65 million, more than double the daily average of around 28.8 million. The company had no specific news but its weakness makes it highly susceptible to dropping oil prices.

Weatherford International plc (NYSE: WFT) traded down about 6.7% Wednesday and posted a new 52-week low of $2.91 after closing Tuesday at $3.12. The stock’s 52-week high is $7.09. Volume was around 22.5 million, about equal to the daily average. The company had no specific news and like Chesapeake is so weak that any bad news on crude oil prices hits the stock hard.

Southwestern Energy Co. (NYSE: SWN) fell about 5.7% Wednesday to post a new 52-week low of $3.63 after closing at $3.85 on Tuesday. The 52-week high is $9.17. Volume of about 20 million was 15% below the daily average. The company had no specific news.

Macom Technology Solutions Holdings Inc. (NASDAQ: MTSI) traded down nearly 32% Wednesday and posted a new 52-week low of $19.52 after closing Tuesday at $28.57. The stock’s 52-week high is $65.99. Volume was around 11 million, more than 10 times the daily average of about 1 million shares. The company reported poor quarterly revenues on Tuesday and guidance was an even worse bit of news.

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