ABT, FIG, IP Stocks Fell To 52-Week Lows Today: What's Happening?

• ABT stock fell to a 52-week low of $90.29 in intraday trading as weak Covid-19 testing and U.S. pediatric nutrition, and other sectoral concerns weighed on its performance. 
• FIG stock fell to a 52-week low of $16.60 in Thursday’s intraday session as concerns over Anthropic’s AI design tool continued to linger. 
• IP stock fell to a 52-week low of $29.45 after its first-quarter results failed to meet Wall Street expectations.

Abbott Laboratories (ABT), Figma Inc. (FIG), and International Paper Co. (IP) stocks were among those that hit fresh intraday lows on Thursday as investors grew skeptical over regulatory concerns, emerging competitive threats, and earnings results.

Shares of ABT fell about 0.6% at the close and IP stock closed down more than 9%. Meanwhile, FIG shares recovered from intraday lows, closing up about 5%.

Sectoral Concerns Weigh On Abbott

The global healthcare company’s shares fell to a 52-week low of $90.29 in intraday trading, capping two consecutive months of declines.

Abbott has been facing pressure from declining demand for Covid-19 testing, market-share losses in pediatric nutrition, and other sectoral headwinds. Recent positive developments, including FDA clearance for its AI-powered coronary imaging platform Ultreon 3.0 Software, and positive data from four trials, have failed to meaningfully revive the stock’s performance.

On Stocktwits, retail sentiment around ABT stock has remained in the ‘bearish’ territory over the past 24 hours amid ‘high’ message volumes. ABT shares have declined more than 26% this year.

Figma Swings On AI Concerns

FIG stock fell to a 52-week low of $16.60 in Thursday’s intraday session before recovering to $17.70 at close. Although the design company has been under pressure over concerns around Anthropic’s artificial intelligence tool, retail investors in the company have largely dismissed concerns.

Meanwhile, according to Koyfin data, 12 analysts covering the stock have a 12-month average price target of $40.25, representing an upside potential of about 127% from the previous close.

FIG stock has declined nearly 53% this year, but retail traders on Stocktwits remain ‘bullish’ on the stock.

International Paper Declines On Weak Results

IP stock fell to a fresh 52-week low of $29.45 after it posted first-quarter (Q1) results that disappointed Wall Street and retail investors alike.

JPMorgan said in a note on Thursday that International Paper's Q1 EBITDA of $677 million was 3% below consensus and below its own guidance of $740 million, according to TheFly. The company’s guidance for the following quarter’s EBITDA was also 25% below consensus estimates at the mid-point. The firm said that the Q1 report was "worse than our negative catalyst watch envisioned."

JPMorgan has a Neutral rating and $46 price target on International Paper shares. Meanwhile, retail sentiment around the stock was ‘bullish’ at the time of writing. IP stock has lost more than 24% this year.

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