3 ASX 200 shares sliding to 52-week lows on Tuesday

These ASX 200 shares have just hit new 52-week lows. What’s going on?

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The S&P/ASX 200 Index (ASX: XJO) is having a pretty miserly day of trading so far this Tuesday. At the time of writing, the ASX 200 is down by 0.52% at just under 7,450 points. But today has been a little worse for some ASX 200 shares. In fact, we’ve seen several hit new 52-week lows today. Let’s check out the damage.

The first ASX 200 share hitting a new 52-week low today is A2 Milk Company Ltd (ASX: A2M). It’s been a long and painful fall from grace for this embattled dairy share. It was only back in July 2020 that we saw A2 Milk hit around $20 a share.

But, sadly, today has seen A2 shares go as low as $4.57 each. That’s a steep fall of close to 80% from those 2020 highs. You’d have to go back to 2017 for a time that A2 consistently traded at these kinds of prices. As my Fool colleague James covered today, A2’s more recent falls come after some brokers downgraded their sentiments on the company.

2 more ASX 200 shares hitting new 52-week lows today

Another ASX 200 share hitting new 52-week lows today is Aristocrat Leisure Limited (ASX: ALL). Aristocrat is a market leader in the manufacturing of gaming machines (namely poker machines). But it seems to be out of favour with investors right now, who have sent the company to a new 52-week low of $32.60 today.

That puts Aristocrat down more than 27% in 2022 so far. But unlike A2 Milk, a few brokers are seeing value in these lows. One is Citi, which recently slapped the ASX 200 pokie maker with a 12-month share price target of $44.

Let’s now look at Platinum Asset Management Ltd (ASX: PTM). Platinum is a fund manager that has also been going through the wars of late. Platinum’s last all-time high came in 2015 and was over $9 a share. But ever since, this company has drifted lower and lower. Today, it hit a new 52-week low of $1.83 a share. Unfortunately for investors, that also represents its lowest point since at least 2007.

So it hasn’t been a great day for these ASX 200 shares. Any investors involved with any of these companies will no doubt be hoping that it only gets better from here. But we shall have to wait and see.

Motley Fool contributor Sebastian Bowen owns A2 Milk. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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