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DryShips, Stage Stores Plunge into Monday's 52-Week Low Club
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January 9, 2017: Here are four stocks trading with relatively heavy volume among 21 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by more than 3 to 2 and on the Nasdaq decliners led advancers by about 4 to 3.
DryShips Inc. (NASDAQ: DRYS) dropped about 13.2% on Monday to post a new 52-week low of $2.63 against a 52-week high of $278.40 and a Friday close of $3.03. Volume of about 13.7 million was 70% above the daily average of around 8 million. The dry bulk shipper announced this morning that it has exercised an option to buy the first of four very-large gas carriers at a cost of $83.5 million each as it expands into shipping LPG.
Stage Stores Inc. (NYSE: SSI) dropped nearly 20% on Monday to post a new 52-week low of $3.21 after closing at $4.00 on Friday. Volume was more than 5 times the daily average of about 650,000 shares. The company posted poor holiday season sales last Friday and lowered its guidance.
Galena Biopharma Inc. (NASDAQ: GALE) also dropped nearly 44% Monday to post a new 52-week low of $1.66 after closing Friday at $2.07. The 52-week high is $49.80. Volume of around 1.5 million was 30% above the daily average of around 2.2 million shares traded. The company had no specific news.
Diplomat Pharmacy Inc. (NYSE: DPLO) dropped 7.4% Monday, posting a new 52-week low of $12.25 after closing at $13.23 on Friday. The stock’s 52-week high is $38.94. The specialty pharmacy company said this morning that revenues and adjusted EBITDA for 2016 will come in at or near the low end of the company’s previously announced range.
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