L Brands, Iamgold Tumble into Thursday's 52-Week Low Club

Investing

Published: August 23, 2018 4:04 pm

Last Updated: January 11, 2020 6:54 pm

August 23, 2018: Here are four stocks trading with heavy volume among 67 equities making new 52-week lows in Thursday’s session. On the NYSE decliners led advancers by about 2.05 to 1, and on the Nasdaq, decliners led advancers by about 1.47 to 1.

L Brands Inc. (NYSE: LB) traded down more than 12% Thursday to set a new 52-week low of $27.95. Shares closed at $31.89 on Wednesday, and the 52-week high is $63.10. Volume was more than seven times the daily average of around 4.6 million. The company reported weak results last night and cut guidance. A double whammy.

Lannett Company Inc. (NYSE: LCI) traded down nearly 16% Thursday to post a new 52-week low of $4.60 after closing Wednesday at $5.45. The stock’s 52-week high is $30.35. Volume was about six times the daily average of around 1 million shares. The generic drug maker is still getting pounded on the loss of a major customer.

Iamgold Corp. (NYSE: IAG) dropped about 7.8% Thursday to set a new 52-week low of $3.90. Shares closed at $4.23 on Wednesday and the stock’s 52-week high is $7.25. Volume totaled around 4.5 million, about a third higher than the daily average. The company had no specific news.

Tahoe Resources Inc. (NYSE: TAHO) also traded down about 7.8% Thursday and posted a new 52-week low of $3.54 after closing Wednesday at $3.84. The stock’s 52-week high is $7.00. Volume was about 25% above the daily average of around 3 million. The company had no specific news.