Here’s one stock hitting a 52-week high and one finding a 52-week low today:
New High: Tootsie Roll Industries
Shares of Tootsie Roll Industries (NYSE:TR) have climbed a solid 7% over the past five days, bringing its year-to-date gains to 25% — more than double the S&P 500 — and bringing the stock to a new 52-week high just under $29.
The question, though, will be whether the beloved candy brand can hold onto that climb. The stock has moved dramatically up and down over the past decade, with only 50% gains over the entire time period — a 2% annualized rate.
For the next five years, though, analysts expected growth of 9% per year. Still, that lags behind the industry average of 13%.
Plus, the stock’s average volume is low — something any investor should be handle with care.
New Low: Geron Corporation
Geron Corporation (NASDAQ:GERN) — a biopharmaceutical company — has lost nearly 30% so far today on news that it plans to end development of experimental brain cancer drug GRN1005. The company also restructuring. It’s replacing its chief financial officer and plans to cut around 40% of its workforce.
The plummet has sent GERN to a new 52-week low. Shares are now worth just over $1. That’s actually a 7% improvement from their pricetag at the start of the year, though.
As of this writing, Alyssa Oursler did not own a position in any of the aforementioned securities.