Stocks falling to new 52 week lows on June 13 are Renren Inc. American Depositary, World Wrestling Entertainment Inc, 21Vianet Group Inc, Quanex Building Products Corporation, and Le Gaga Holdings Ltd. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.
Shares of Renren Inc. American Depositary (RENN) fell by 8.34% or $-0.78/share to $8.57. In the past year, the shares have traded as low as $8.80 and as high as $24.00. On average, 11695260 shares of RENN exchange hands on a given day and today's volume is recorded at 3898416. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.14 area but be careful because the stock may face selling pressure at this level.
Shares of World Wrestling Entertainment Inc. (WWE) fell by 2.45% or $-0.23/share to $9.16. In the past year, the shares have traded as low as $9.33 and as high as $15.45. On average, 418490 shares of WWE exchange hands on a given day and today's volume is recorded at 193002. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $10.89 area but be careful because the stock may face selling pressure at this level.
Shares of 21Vianet Group Inc. (VNET) fell by 1.35% or $-0.14/share to $9.88. In the past year, the shares have traded as low as $9.88 and as high as $22.34. On average, 1387090 shares of VNET exchange hands on a given day and today's volume is recorded at 118865. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $13.53 area but be careful because the stock may face selling pressure at this level.
Shares of Quanex Building Products Corporation (NX) fell by 10.5% or $-1.90/share to $16.2. In the past year, the shares have traded as low as $14.41 and as high as $21.62. On average, 238210 shares of NX exchange hands on a given day and today's volume is recorded at 642671. The shares are currently trading below the 200-day moving average which indicates that the shares have been suffering from downward momentum lately. The stock may bounce higher to test the 200-day moving average, so look for a move up to the $18.70 area where the stock may encounter resistance.
Shares of Le Gaga Holdings Ltd (GAGA) fell by 0.9% or $-0.06/share to $6.69. In the past year, the shares have traded as low as $6.64 and as high as $11.39. On average, 25740 shares of GAGA exchange hands on a given day and today's volume is recorded at 18074. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $8.53 area but be careful because the stock may face selling pressure at this level.
