Stocks That Hit 52-Week Lows On Wednesday
Portfolio Pulse from Benzinga Insights
On Wednesday, 29 companies set new 52-week lows, with NovoCure being the largest in terms of market cap and HTG Molecular Diagnostics being the smallest. PolarityTE's stock fell the most, while Owlet's shares rebounded the highest.
June 07, 2023 | 4:38 pm
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POSITIVE IMPACT
Owlet's shares rebounded the highest, trading up 0.1% after reaching its new 52-week low.
Owlet's shares rebounding after hitting a new 52-week low indicates a potential shift in market sentiment, which could lead to a short-term upward movement in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
HTG Molecular Diagnostics, the smallest company in terms of market cap to set a new 52-week low, saw its shares reach a low of $0.71, down 16.23% on Wednesday morning.
HTG Molecular Diagnostics' shares hitting a new 52-week low indicates a bearish sentiment in the market, which could lead to further downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
NovoCure, the largest company in terms of market cap to set a new 52-week low, saw its shares down 1.26% for the day, reaching a low of $45.69.
NovoCure's shares hitting a new 52-week low indicates a bearish sentiment in the market, which could lead to further downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
PolarityTE's stock traded down the lowest, falling 42.87% to reach a new 52-week low.
PolarityTE's significant drop in stock price indicates a strong bearish sentiment in the market, which could lead to further downward pressure on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100