Bristol-Myers, Mattel Plunge into Thursday's 52-Week Low Club

January 26, 2017: Here are four stocks trading with relatively heavy volume among 31 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq decliners led advancers by about 8 to 5.

Bristol-Myers Squibb Co. (NYSE: BMY) dropped about 7.1% Thursday, to post a new 52-week low of $46.01 after closing at $49.55 on Wednesday. The stock’s 52-week high is $77.12. Volume was more than 3 times the daily average of around 11.6 million shares. The company missed profit estimates this morning and cut its outlook following a difficult quarter for its cancer treatment.

Mattel Inc. (NASDAQ: MAT) dropped more than 18% Thursday to post a new 52-week low of $25.83 after closing Wednesday at $31.56. The 52-week high is $34.76. Volume of around 30.2 million was more than 7 times the daily average of around 4 million shares traded. The toy maker’s fourth-quarter report was quite disappointing.

DryShips Inc. (NASDAQ: DRYS) dropped 19.5% on Thursday to post a new split-adjusted 52-week low of $3.22 against a 52-week high of $278.40 and a Wednesday close of $4.00. Volume of around 12 million was nearly 6 times the daily average of around 2.3 million. The company had no specific news Wednesday, but a 1-for-8 reverse stock split that became effective Monday has absolutely killed shares.

FuelCell Energy Inc. (NASDAQ: FCEL) traded flat on Thursday to match the new 52-week low of $1.50 set on Wednesday. The stock closed at $1.55 on Wednesday. Volume was about 3 times the daily average of around 650,000. The company had no specific news Thursday.