Stocks falling to new 52 week lows on June 1 are DreamWorks Animation SKG Inc., FirstMerit Corporation, Greenhill & Co., Inc., Knight Transportation Inc., and Knight Capital Group Inc.. Investors are selling the stock and pushing it lower because they may think that the stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.
Shares of DreamWorks Animation SKG Inc. (DWA) fell by 2.97% or $23.91/share to $23.2. In the past year, the shares have traded as low as $23.09 and as high as $37.74. On average, 952020 shares of DWA exchange hands on a given day and today's volume is recorded at 2457964. 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 $29.50 area where the stock may encounter resistance.
Shares of FirstMerit Corporation (FMER) fell by 4.91% or $16.29/share to $15.49. In the past year, the shares have traded as low as $15.88 and as high as $20.09. On average, 828850 shares of FMER exchange hands on a given day and today's volume is recorded at 1548847. 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 $17.41 area where the stock may encounter resistance.
Shares of Greenhill & Co., Inc. (GHL) fell by 5.52% or $55.66/share to $52.59. In the past year, the shares have traded as low as $53.16 and as high as $83.29. On average, 351980 shares of GHL exchange hands on a given day and today's volume is recorded at 314354. 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 $71.06 area where the stock may encounter resistance.
Shares of Knight Transportation Inc. (KNX) fell by 3.51% or $17.10/share to $16.5. In the past year, the shares have traded as low as $16.58 and as high as $21.22. On average, 1072050 shares of KNX exchange hands on a given day and today's volume is recorded at 1045054. 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 $18.51 area where the stock may encounter resistance.
Shares of Knight Capital Group Inc. (KCG) fell by 4.94% or $12.34/share to $11.73. In the past year, the shares have traded as low as $11.88 and as high as $15.35. On average, 1085180 shares of KCG exchange hands on a given day and today's volume is recorded at 1888367. 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 $13.23 area where the stock may encounter resistance.
