Four TASI Stocks Touch 52-Week Lows on June 24

Four stocks listed on the Saudi main market hit 52-week lows during Tuesday's session, data compiled by Argaam showed.

The stocks that touched new lows were Thimar, Takween, Burgerizzr, and KHC. Thimar closed at SAR 42.00, Takween at SAR 10.50, Burgerizzr at SAR 14.20, and KHC at SAR 38.00.

The moves came as the broader TASI index fell 0.8% on the day, with most sectors in negative territory. The four stocks that hit lows were among the worst performers in their respective sectors.

Thimar's decline came after the company announced it had exited its investment in the Osoul & Bakheet fund for SAR 6.6 million. Takween, meanwhile, scrapped a planned SAR 650 million local sukuk program, a move that weighed on sentiment toward the stock.

For KHC, the drop extended a multi-session slide that began after the stock went ex-dividend on June 24. Burgerizzr also went ex-dividend on the same date, contributing to its decline.

The breadth of the selloff – four stocks hitting new lows in a single session – is rare for the TASI. The last time more than three stocks touched 52-week lows on the same day was in April, according to Argaam data.