Bears Lose: Nine Stocks Hitting New Lows

by: The Keating Letter
As a Chicago Bears fan, I was disappointed to see them lose to the Packers yesterday. The bears are losing again today in the market as well -- which helps matters some. Below I highlight nine new stocks that are hitting new 52-week lows in today’s session. Two of them hit bottom and are trading way up, and may be worth a second or third look.
This article is designed to be a quick list of some of the day’s new lows so investors can decide if they want to do any additional research. I provide the percentage change, market cap and average volume as reference. At the end of the week, I’ll write up more in-depth articles about specific companies from these daily updates. This past weekend I put up two articles going into more details about a few of last week’s new lows: One on M&F Worldwide (NYSE:MFW) and the other on Hudson City Bancorp (NASDAQ:HCBK).
I used MarketWatch's screener as a reference. Please also note that this is not a complete list of lows.
Baltic Trading Ltd. (NYSE:BALT): Price: 9.33; Change: -6.33%; Market cap: $210m; Avg Volume: 179k
Baltic Trading Limited owns drybulk vessels and trades in trip charters and vessel pools in the spot market.
Frontline Ltd. (NYSE:FRO):
Price: 24.87; Change: -0.28%; Market cap: $1.94b; Avg Volume: 1.3m
FRO, through its subsidiaries, engages in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers.
Genco Shipping & Trading (NYSE:GNK):
Price: 13.03; Change: -1.96%; Market cap: $463m; Avg Volume: 1.1m
GNK engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide.
Price: 3.34; Change: 4.37%; Market cap: $64m; Avg Volume: 68k
GVP provides simulation and educational solutions and services to nuclear and fossil electric utilities, and to chemical and petrochemical industries throughout the world.
Life Partner Holdings (NASDAQ:LPHI):
Price: 12.84; Change: 8.63%; Market cap: $239m; Avg Volume: 222k
LPHI operates in the secondary market for life insurance in the United States and facilitates life settlement transactions by identifying, examining, and purchasing the policies as agent for the purchasers.
Radio Shack (NYSE:RSH):
Price: 15.42; Change: -12.44%; Market cap: $1.8bm; Avg Volume: 3.3m
RSH engages in the retail sale of consumer electronics goods and services through its RadioShack store chain and non-RadioShack branded kiosk operations.
Savient Pharmaceuticals (OTC:SVNT):
Price: 10.00; Change: -1.96%; Market cap: $676m; Avg Volume: 3.5m
SVNT is a specialty biopharmaceutical company focusing on developing Krystexxa, a potential treatment for chronic gout. The company also sells and distributes branded and generic versions of oxandrolone, a drug used to promote weight gain following involuntary weight loss.
Syms Corp. (SYMS):
Price: 6.68; Change: -2.6333%; Market cap: $97m; Avg Volume: 11k
SYMS operates a chain of off-price apparel retail stores under the Syms and Filene’s Basement names in the United States. Its stores offer a range of in-season merchandise for men, women, and children.
World Wrestling Entertainment (NYSE:WWE)
Price: 12.21; Change: -9.56%; Market cap: $898m; Avg Volume: 273k
WWE is an integrated media and entertainment company that engages in the sports entertainment business. The company develops content centered around its talent, and presents at its live and televised events featuring World Wrestling Entertainment brands.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.