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Forbes Money Investing Chewy, Pfizer, Raytheon, Toro Make “New 52-Week Lows” List John Navin Contributor Opinions expressed by Forbes Contributors are their own. Following Sep 16, 2023, 01:34pm EDT | Press play to listen to this article! Got it! Share to Facebook Share to Twitter Share to Linkedin Raytheon, Toro getty It’s the heaviness of the selling volume in these big market capitalization stocks that stands out. These New York Stock Exchange listed names don’t get half the coverage in the financial media as some tech and social media favorites. It would be easy to miss how far down some former leaders have travelled. Price chart analysis: Chewy is an online retailer of mostly pet foods and, along with a lower-than-expected consumer sentiment metric this week, also suffered from the displeasure of CNBC “analyst” Jim Cramer, who this week bad-mouthed the company on the air. The daily price chart looks like this now: Chewy daily price chart, 9 16 23. stockcharts.com From the early February peak of $52, Chewy has trended steadily lower to its current price of $20.15, a 59% drop in less than a year. Note the big red selling bars (below the price chart) in late August and in September. It’s probably safe to say that the stock is no longer a favorite of the on-line retailer investor. Market cap is $8.89 billion. Pfizer PFE is a major biopharmaceutical company with operations around the globe. One of its products (along with Moderna) is Covid booster shots. Market capitalization comes to $192.53 billion. MORE FOR YOU A Fast-Growing $17.7 Trillion Wall Street Crypto Earthquake Is Suddenly Hurtling Toward The Bitcoin And Ethereum Price This 7 9 Payer Just Changed Its Dividend Policy Buying Into Mortgage REITs Via REM: FDI - September 16 Weekly Review In mid-July, JP Morgan “reiterated” its “neutral” rating of the stock with a price target of $45 to $41. Credit Suisse in late June downgraded Pfizer from “outperform” to “neutral” with a price target of $47 to $40. The daily price chart is here: Pfizer daily price chart, 9 16 23. stockcharts.com It’s declined from $49 in January to $34 in September — for those who bought early in the year that’s a loss of 30%. Last week’s selling picked up as indicated by the big red volume bar beneath the price chart. The relative strength indicator (RSI) suggests a positive divergence to price movement. Raytheon is a major aerospace and defense contractor with a market capitalization of $111.45 billion. The company is reported to have ended a billion-dollar agreement with Saudi Arabian individuals over concerns of their possible connections with Russian and Chinese operatives. Raytheon Technologies daily price chart, 9 16 23. stockcharts.com The price drop is from $106 in January to September’s $74 — a plunge of 30%. The 50-day moving average (the blue line) crossed below the 200-day moving average (the red line) as the stock gapped down in July. Take a look at the Raytheon weekly price chart: Raytheon Technologies weekly price chart, 9 16 23. stockcharts.com Note how — in the red-circled area — the price is now below the 200-week moving average, a significant factor likely to be picked up by Wall Street algorithms and the humans who write the code. The Toro TTC Company manufactures tools and sells them under brand names like Ditch Witch, Exmark and Spartan Mowers. With corporate headquarters in Bloomington, Minnesota, the company has a market capitalization of $9.05 billion. Less than expected earnings reported in September have led to the dumping of shares: Toro Co daily price chart, 9 16 23. stockcharts.com A sharp price chart analyst might have seen issues coming back in early June when the 50-day moving average crossed below the 200-day moving average. Follow me on Twitter or LinkedIn . John Navin Editorial Standards Print Reprints & Permissions
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