Investing
ConAgra, Tenet Healthcare Tumble Into Thursday's 52-Week Low Club
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November 10, 2016: Here are four stocks trading with relatively heavy volume among 89 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 200 issues and on the Nasdaq advancers led decliners by about 4 to 3.
Vodafone Group PLC (NASDAQ: VOD) lost about 1.8% Thursday to post a new 52-week low of $26.31 after closing Wednesday at $26.80. The 52-week high is $28.13. Volume of around 11 million was about double the daily average of around 5.3 million shares traded. The hospital stocks took a beating following Wednesday’s election based on the new administration’s promise to repeal Obamacare. With majorities in both houses of Congress and a president not named Obama, this looks like a sure thing to investors.
58.com Inc. (NYSE: WUBA) dropped about 4.5% on Thursday to post a new 52-week low of $33.35 after closing at $21.89 on Wednesday. The stock’s 52-week high is $70.27. Volume was more than 5 times the daily average of around 1.5 million shares. The Beijing-based online marketplace posted a net loss this morning.
Tenet Healthcare Corp. (NYSE: THC) dropped about 7.2% on Thursday to post a new 52-week low of $14.50 against a 52-week high of $35.35. Volume of about 8.2 million was about 3 times the daily average of around 2.7 million. The hospital company had no specific news, but hospital stocks have not fared well since Tuesday’s election.
ConAgra Foods Inc. (NYSE: CAG) dropped about 8.7% on Thursday to post a new 52-week low of $33.73 after closing at $36.93 on Wednesday. The stock’s 52-week high is $48.86. Volume of about 8.6 million was about 3 times the daily average of around 2.9 million shares. The company completed its spin-off of Lamb Weston today.
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