Stocks falling to new 52 week lows on August 4 are Leap Wireless International Inc, Savient Pharmaceuticals, Inc, Cooper Tire & Rubber Co, comScore, Inc, and Central Garden & Pet Co. 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 Leap Wireless International Inc. (LEAP) fell by 29.28% or $-2.94/share to $7.1. In the past year, the shares have traded as low as $9.51 and as high as $17.66. On average, 1899220 shares of LEAP exchange hands on a given day and today's volume is recorded at 9358943. 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 $13.95 area where the stock may encounter resistance.
Shares of Savient Pharmaceuticals, Inc. (SVNT) fell by 26.71% or $-1.72/share to $4.72. In the past year, the shares have traded as low as $6.31 and as high as $23.46. On average, 1959400 shares of SVNT exchange hands on a given day and today's volume is recorded at 3404888. 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 $7.35 area but be careful because the stock may face selling pressure at this level.
Shares of Cooper Tire & Rubber Co. (CTB) fell by 26.31% or $-4.33/share to $12.13. In the past year, the shares have traded as low as $15.52 and as high as $27.61. On average, 694090 shares of CTB exchange hands on a given day and today's volume is recorded at 4283351. 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 $19.82 area but be careful because the stock may face selling pressure at this level.
Shares of comScore, Inc. (SCOR) fell by 29.47% or $-6.21/share to $14.86. In the past year, the shares have traded as low as $17.18 and as high as $31.28. On average, 227670 shares of SCOR exchange hands on a given day and today's volume is recorded at 3737188. 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 $25.49 area where the stock may encounter resistance.
Shares of Central Garden & Pet Co. (CENT) fell by 6.95% or $-0.61/share to $8.17. In the past year, the shares have traded as low as $8.40 and as high as $11.38. On average, 97380 shares of CENT exchange hands on a given day and today's volume is recorded at 195810. 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 $9.79 area where the stock may encounter resistance.
