Publicly traded companies in the marine industry have certainly not been immune from the recent stock market struggles, with several recently hitting their 52-week lows.
The market experienced a day of increased volatility on Monday. At one point, the Dow Jones Industrial Average was down almost 1,100 points, the biggest single-day drop on record. The Dow ended up closing down 588 points, or 3.6 percent.
Both MarineMax and Malibu Boats hit their lowest stock price of the last year during the day Monday.
MarineMax dropped as low as $15.49 a share before climbing back slightly to $15.62, down 6.35 percent for the day. That’s well off of the 52-week high of $28.69.
Malibu had an especially volatile day, falling to a 52-week low of $14.48 and trading as high as $20 before finishing down 6.29 percent at $16.69 a share.
Brunswick Corp. finished down 5.16 percent at $47.59 a share, still well ahead of its 52-week low of $38.17.
Marine Products Corp., parent company of Chaparral and Robalo, finished down 1.59 percent to $6.83. The company’s stock hit a 52-week low just last month at $5.73 a share.