Stocks falling to new 52 week lows on May 8 are Millennial Media Inc, Ivanhoe Mines Ltd, Northern Dynasty Minerals Ltd, STEC, Inc, and Arch Coal Inc. 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 Millennial Media Inc. (MM) fell by 17.84% or $-3.39/share to $15.61. In the past year, the shares have traded as low as $16.62 and as high as $27.90. On average, 1249410 shares of MM exchange hands on a given day and today's volume is recorded at 884378. 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 $19.39 area but be careful because the stock may face selling pressure at this level.
Shares of Ivanhoe Mines Ltd. (IVN) fell by 5.2% or $-0.54/share to $9.84. In the past year, the shares have traded as low as $10.33 and as high as $27.50. On average, 3373720 shares of IVN exchange hands on a given day and today's volume is recorded at 2055596. 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 $14.95 area but be careful because the stock may face selling pressure at this level.
Shares of Northern Dynasty Minerals Ltd. (NAK) fell by 7.13% or $-0.35/share to $4.56. In the past year, the shares have traded as low as $4.85 and as high as $12.98. On average, 152930 shares of NAK exchange hands on a given day and today's volume is recorded at 154785. 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 $5.94 area but be careful because the stock may face selling pressure at this level.
Shares of STEC, Inc. (STEC) fell by 6.09% or $-0.49/share to $7.55. In the past year, the shares have traded as low as $8.01 and as high as $20.47. On average, 680550 shares of STEC exchange hands on a given day and today's volume is recorded at 470939. 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 $9.02 area but be careful because the stock may face selling pressure at this level.
Shares of Arch Coal Inc. (ACI) fell by 8.73% or $-0.71/share to $7.38. In the past year, the shares have traded as low as $7.79 and as high as $31.22. On average, 11390540 shares of ACI exchange hands on a given day and today's volume is recorded at 11404248. 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 $10.85 area but be careful because the stock may face selling pressure at this level.
