3 Stocks At 52-Week Lows That Could Bounce

An important indicator for investors to consider could be a stock's 52-week trading range, which shows the lowest and highest price at which a particular stock has traded over the last 52 weeks.

Here is a look at three stocks at 52-week lows that could bounce.

American Well: Telehealth company American Well Corp AMWL hit new 52-week highs this week. The company went public in late 2020 and has traded between $19.27 and $43.75 since that time.

Shares traded lower on news that Amazon.com AMZN is looking to expand its telehealth services nationwide. The company also competes with Teladoc Health TDOC.

The company reported a 450% year-over-year increase to 1.41 million visits in the third quarter. Company revenue was up 80% year-over-year to $62.6 million in the third quarter. The company announced it would launch new products. 

American Well reports earnings on March 24. The company counts Alphabet GOOG GOOGL as an investor. 

Lordstown Motors: Electric vehicle company Lordstown Motors Corp RIDE hit new post-SPAC merger lows this week.

The company was hit by a short report from Hindenburg Research and also announced a SEC inquiry. CEO Steve Burns told CNBC that the company had collected “non-binding letters of intents” and referred to them as pre-orders.

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“We have pre-orders directly from fleets, we have pre-orders from people that sell to fleets,” Burns said.

Lordstown Motors is working on its electric Endurance pickup truck. If the company can move past the SEC inquiry and produce a vehicle this year with hard orders, shares could be due for a rebound.

Shares of Lordstown Motors have traded between $12.60 and $31.56 since completing the SPAC merger.

Related Link: Camping World, Lordstown Motors Partner On Sales And Electric RV

Root Inc: Insurtech company Root Inc ROOT raised over $724 million with a 2020 IPO. The company is hoping to revolutionize the personal insurance market with a mobile-first method.

The company said at the time of its IPO it hoped to be licensed in all 50 states in 2021. Root had revenue of $290.2 million in 2020 compared to $43.3 million in the prior year.

Since going public, Root reported full fiscal 2020 earnings. The company had direct earned premiums of $605 million, up 71% year-over-year for fiscal 2020.

Root also launched a new proprietary loss cost model and updated its telematics. The company’s loss ratio continued to improve in the fourth quarter.

Shares of Root have traded between $10.45 and $25.63 since going public. Shares hit new lows last week and have already started to recover slightly. Shares could continue to move higher.