March 15, 2016: Here are four stocks trading with heavy volume among 33 equities making new 52-week lows in Tuesday’s session.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped by more than 51% on Tuesday to post a new 52-week low at $33.65 after closing at $69.04 on Monday. The stock’s 52-week high is $263.81. Share volume of about 125 million was nearly 14 times the daily average of around 9.5 million shares traded. The drug company could default on its debt, cut its guidance, and reported weak earnings. This was a very bad day for Valeant.
Endo Pharmaceutical plc (NASDAQ: ENDP) fell by about 22% on Tuesday to post a new 52-week low of $32.83 against a high of $96.58. The stock closed at $42.08 on Monday night. Volume rose to around 14.6 million shares, more than 3 times the daily average of around 4.3 million shares traded. The company had no news Tuesday, but likely got caught in Valeant’s wake.
Eli Lilly and Co. (NYSE: LLY) dropped about 5.8% on Tuesday to post a new 52-week low of $69.60 against a 52-week high of $92.85. The stock closed at $73.91 on Monday night. Volume rose to more than double the stock’s daily average volume of around 4.9 million. Another Valeant victim here too.
Vivint Solar Inc. (NYSE: VSLR) posted a new 52-week low on Tuesday. Shares traded at a low of $3.92, down about 6.4%, after closing at $4.19 on Monday. The stock’s 52-week high is $16.00. Volume totaled more than double the daily average of around 540,000 million shares. The company had no specific news Tuesday.
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