Arch Coal Inc. (NYSE: ACI) dropped about 4.5% on Tuesday to post a new 52-week low of $2.73. Share volume is about 80% above the daily average of around 5 million. The stock’s 52-week high is $5.37. The company was downgraded to Reduce from Neutral and the price target was cut from $4 to $3 at Nomura.
Cumulus Media Inc. (NASDAQ: CMLS) sank to a new 52-week low on Tuesday of $3.81. Based on Monday night’s closing price of $4.09 that’s a drop of nearly 7%. The stock’s 52-week high is $8.19.The commercial radio station broadcasting company has seen shares slide nearly 49% year-to-date. There was no specific news on the stock today. Trading volume was more than double the daily average of around 2.6 million shares.
Sears Holding Corp. (NASDAQ: SHLD) dropped 10% today to post a new 52-week low of $30.16. Share volume was more than 3-times higher than the average daily volume of around 800,000 shares. The stock’s 52-week high is $67.50. The owner of Sears and Kmart stores will borrow $400 million from affiliates of its CEO’s hedge fund.
VirnetX Holding Corp. (NYSEMKT: VHC) dropped about 60% today to post a new 52-week low of $6.00. Volume is nearly 30-times higher than the daily average of around 424,000 shares. A judge threw out the Internet communications software company’s $368 million judgment against Apple. The stock’s 52-week high is $25.49.
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