Starbucks, Frontier Communications Slide into Friday's 52-Week Low Club

Investing

Published: November 4, 2016 4:05 pm

Last Updated: January 13, 2020 1:29 am

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November 4, 2016: Here are four stocks trading with relatively heavy volume among 1,140 equities making new 52-week lows in Friday’s session. On the NYSE, advancers barely led decliners and on the Nasdaq decliners led advancers by about 5 to 4. New 52-week lows topped new highs by about 7 to 1.

Frontier Communications Corp. (NASDAQ: FTR) dropped about 1% on Friday to post a new 52-week low of $3.10 after closing at $3.13 on Thursday. The stock’s 52-week high is $5.85. Volume was nearly double the daily average of around 21 million shares. Thursday’s weak earnings report continues to weigh on the share price and worry investors that the company’s huge dividend is unsustainable.

Falconstor Software Inc. (NASDAQ: FALC) lost nearly 7.7% Friday to post a new 52-week low of $0.60 after closing Thursday at $0.65. The 52-week high is $2.04. Volume of about 39 million was about half the daily average of around 74 million shares traded. The company reported a quarterly loss on Wednesday.

MDC Partners Inc. (NASDAQ: MDCA) dropped about 67% on Friday to post a new 52-week low of $2.75 against a 52-week high of $23.90. Volume of more than 22 million was nearly 40 times the daily average of about 600,000. The stock closed at $3.86 on Thursday night. The company reported a quarterly loss after markets closed Wednesday.

Starbucks Corp. (NASDAQ: SBUX) dropped about 1.8% on Friday to post a new 52-week low of $50.84 after closing at $51.77 on Thursday. The stock’s 52-week high is $63.19. Volume of more than 21 million was nearly 3 times the daily average of around 8.3 million shares. Shares turned around early however, and closed up about 2%.

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