During trading Wednesday, 9 stocks traded to a 52-week high, while 5 stocks bottomed out at new 52-week lows. The S&P 500 is down 0.68% so far today while the Dow is down 0.81%, the Nasdaq is down 0.56%, and the Russell 2000 is down 1.3%.
Stocks are extending losses Wednesday as small caps lead the market lower. Bitcoin has mostly pared losses after the People’s Bank of China popped the crypto bubble by reiterating its ban on cryptos, while Dogecoin, Ethereum, and Litecoin all remain sharply lower, though well off session lows. Crypto associated stocks remain sharply lower as well, including Coinbase (COIN) and Riot Blockchain (RIOT). Meanwhile, Tesla (TSLA) is slumping after data showed that the sales in China are slowing.
Sector Highlights
Financial Services stocks dominated our list of highs today with 3 out of the 9 total stocks that reached their high coming from the Financial Services sector. The Financial Services sector is underperforming the market, decreasing 0.77% so far on the day. Over the last month the Financial Services sector has outperformed the market, increasing 5.66% while the S&P decreased 1.38%.
Berkshire Hills Bancorop (BHLB) is on highs after providing targets for its transformation plan, which aims to improve customer experience, deliver profitable growth, enhance shareholder value, and strengthen community impacts.
Financial Services: ATAX, BBDC, BHLB
Consumer Defensive had the second largest presence on our 52-week highs, with 3 out of 9 highs coming from the Consumer Defensive sector. The Consumer Defensive sector is outperforming the market today, decreasing 0.39% so far on the day. Over the last month the Consumer Defensive sector has outperformed the market, increasing 1.03% while the S&P decreased 1.38%.
Core-Mark (CORE) is on highs after it was announced that Performance Food Group Company (PFGC) will acquire the company for $2.5 billion, with shareholders of CORE receiving $23.875 per share of CORE held. Meanwhile, Target (TGT) is higher after reporting an earnings beat, showing profits of $3.69 per share on estimates for $2.02 per share.
Consumer Defensive: AGRO, CORE, TGT
The Lists
The following stocks traded to 52-week highs:
AGRO, ATAX, BBDC, BHLB, CORE, CVS, NEM, PBH, TGT
The following stocks traded to 52-week lows:
ADVM, AYX, CHRS, HRTG, IOVA
The following ETFs traded to a 52-week high:
FCRD
The following ETFs traded to a 52-week low:
CABO