Bottom Fishing: New 52-week low Stocks (DISH, ZNGA, GS)
Stocks hitting new 52-week lows today (Feb 9th, 2016) are Goldman Sachs (GS), Zynga Inc (ZNGA), and DISH Network (DISH).
Goldman (GS) got down to $145.10 a share today before recovering to almost $2 higher. It's hard to believe that Goldman Sachs is at this level but you can't deny the tape. Year-to-date GS is down 18%. Thanks to the decline GS now sports a 1.76% annual dividend yield. Financial stocks are way out of favor with the Street. Goldman Sachs is one to add to your watch list. We recommend buying it when it establishes at least a 4% move from it's 12 month low.
Zynga Inc (ZNGA) looks like a penny stock these days. The stock hit $2.03 today in trading. ZNGA hasn't been over $5 a share since early 2014. Anyone want to bet on a Farmville revivial? That would be no. Let this stock fall to $1 and change before you ever think about making a small position. Why post a chart on ZNGA? Waste of time.
Another stock to stay away from is DISH Network (DISH). Today DISH hit $40.55 a share and is a long way from its $80.75 12 month high. Cable is the past, steaming is the future. Despite its efforts with Sling TV and all they are trying to stay relative the tape does not lie. Wall Street has lost faith in DISH.
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