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Constellation Brands, Axogen Dive into Wednesday's 52-Week Low Club
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January 9, 2019: Here are four stocks trading with heavy volume among just 8 equities trading at new 52-week lows Wednesday. On the NYSE, advancers led decliners by about 2.1 to 1 and advancers led decliners on the Nasdaq by about 1.98 to 1.
The three major indexes are all on track to post gains of between 0.5% and 1% in Wednesday’s trading session. Crude oil traded up about 5.2% on the day to settle at $52.36 a barrel. Gold settled up about 0.5% at $1,292.00 for the day.
Constellation Brands Inc. (NYSE: STZ) traded down about 12.5% Wednesday and posted a new 52-week low of $150.76 after closing Tuesday at $172.34. The stock’s 52-week high is $236.62. Volume was about seven times the daily average of around 2.2 million. The company reported fourth-quarter weak earnings this morning and cut its forecast.
Amneal Pharmaceuticals Inc. (NASDAQ: AMRX) traded down about 9.7% to post a new 52-week low of $12.49 Wednesday after closing at $13.83 on Tuesday. The stock’s 52-week high is $24.48 and volume was about eight times the daily average of around 1 million. The company had no specific news.
Smart Global Holdings Inc. (NASDAQ: SGH) dropped about 29% Wednesday to set a new 52-week low of $22.50. Shares closed at $31.91 on Tuesday and the stock’s 52-week high is $56.69. Volume was around 14 times the daily average of about 500,000. The DRAM memory maker reported after markets closed Tuesday and lowered both revenue and profit estimates for the current quarter.
AxoGen Inc. (NASDAQ: AXGN) traded down about 6.9% to post a new 52-week low of $14.13 Wednesday after closing at $15.17 on Tuesday. The stock’s 52-week high is $56.85. Volume was nearly double the daily average of around 740,000. The company announced preliminary quarterly results Monday morning that failed to meet expectations and the medical device maker seen its stock price tumble by about 30% ever since.
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