Investing
Ericsson, Merrimack Drop Into Tuesday's 52-Week Low Club
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September 6, 2016: Here are three stocks trading with relatively heavy volume among 19 equities making new 52-week lows in Tuesday’s session. NYSE advancers led decliners by about 5 to 4 and Nasdaq advancers led decliners by nearly 3 to 2.
Telfonaktiebolaget LM Ericsson (NASDAQ: ERIC) lost about 2.2% Tuesday to post a new 52-week low of $6.96 after closing Friday at $7.12. The 52-week high is $10.58. Volume of more than 4.7 million was nearly 30% higher than the daily average of around 3.9 million. The Swedish tech company had no specific news.
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped about 1.1% on Tuesday to post a new 52-week low of $4.48 against a 52-week high of $10.89. Volume of around 1.8 million was about 40% below the daily average of around 1.8 million. The stock closed at $4.53 on Friday night. The pharmaceuticals maker’s stock recovered to post a gain of about 2.2% on the day shortly before the closing bell.
Norwegian Cruise Lines Holdings Ltd. (NASDAQ: NCLH) dropped about 1.1% on Tuesday to post a new 52-week low of $35.22 after closing at $35.61 on Friday. The stock’s 52-week high is $64.27. Volume was about half the daily average of around 2.4 million shares. The cruise ship operator had no news, but we noted over the weekend that the CEO bought shares valued at $3 million last week at a price about 30 cents higher than Friday’s closing price.
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