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PG&E, Inpixon Plummet into Tuesday's 52-Week Low Club
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January 15, 2019: Here are four stocks trading with heavy volume among 25 equities that posted new 52-week lows Tuesday. On the NYSE, advancers led decliners by about 1.5 to 1 and advancers led decliners on the Nasdaq by about 1.84 to 1.
The three major indexes are all on track to post solid gains in Tuesday’s trading session. Crude oil traded up about 3.2% on the day to settle at $52.11 a barrel. Gold settled down about 0.2% at $1,288.40 for the day. In political news, the British parliament rejected by a vote of more than 2 to 1 the Brexit deal offered by Prime Minister Theresa May.
PG&E Corp. (NYSE: PCG) traded down nearly 40% Tuesday and posted a new 52-week low of $5.07 after closing Monday at $8.38. The stock’s 52-week high is $49.42. Volume was nearly nine times the daily average of around 13.5 million. The utility giant said on Monday that it plans to file for bankruptcy protection by the end of this month. Today it missed an interest payment of $21.6 million.
Tailored Brands Inc. (NYSE: TLRD) traded down about 1.7% to post a new 52-week low of $11.86 Tuesday after closing at $12.07 on Monday. The stock’s 52-week high is $35.94 and volume was about a third higher than the daily average of around 1.7 million. The clothing retailer that owns Men’s Wearhouse and Jos A Banks stores, among other brands, lowered its fiscal 2018 earnings outlook Monday morning and investors have been lowering the share price in response.
Clearway Energy Inc. (NYSE: CWEN) traded down about 5.9% to post a new 52-week low of $13.45 Tuesday after closing at $14.30 on Monday. The stock’s 52-week high is $20.75. Volume was more than double the daily average of around 710,000. The renewable energy company had no specific news.
Inpixon (NASDAQ: INPX) dropped about 18% Tuesday to set a new 52-week low of $1.98. Shares closed at $2.42 on Monday and the stock’s 52-week high is $2.36. Volume was around 30% lower than the daily average of about 2 million. The Spanish-language media company had no specific news. The data analytics company completed a rights offering on Monday that existing investors reckoned lowered the value of their own holdings.
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