Stocks falling to new 52 week lows on July 3 are CTC Media, Inc, RadioShack Corp, and Groupon, 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 CTC Media, Inc (CTCM) fell by 9.4% or $-0.75/share to $7.23. In the past year, the shares have traded as low as $7.64 and as high as $20.99. On average, 538280 shares of CTCM exchange hands on a given day and today's volume is recorded at 1833197. 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 $9.29 area but be careful because the stock may face selling pressure at this level.
Shares of RadioShack Corp. (RSH) traded higher by 1.78% or $0.07/share to $3.88. In the past year, the shares have traded as low as $3.78 and as high as $14.89. On average, 3896300 shares of RSH exchange hands on a given day and today's volume is recorded at 1627061. 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 $4.52 area but be careful because the stock may face selling pressure at this level.
Shares of Groupon, Inc. (GRPN) fell by 5.68% or $-0.54/share to $8.97. In the past year, the shares have traded as low as $8.80 and as high as $31.14. On average, 5992030 shares of GRPN exchange hands on a given day and today's volume is recorded at 8044030. 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 $10.79 area but be careful because the stock may face selling pressure at this level.
