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Rite Aid, Pitney Bowes Welcomed to Wednesday's 52-Week Low Club
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February 1, 2017: Here are four stocks trading with relatively heavy volume among 44 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq advancers and decliners traded evenly.
Rite Aid Corp. (NYSE: RAD) dropped about 5.9% Wednesday, to post a new 52-week low of $5.29 after closing at $5.62 on Tuesday. The stock’s 52-week high is $8.77. Volume was approaching double the daily average of around 22.5 million shares. The company continues to reel from Monday’s announced share-price cut in the merger deal with Walgreens.
Pitney Bowes Inc. (NYSE: PBI) dropped about 22% on Wednesday to post a new 52-week low of $12.41 against a 52-week high of $21.81 and a Tuesday close of $15.92. Volume of around 27 million was nearly 10 times the daily average of around 2.8 million. The company missed earnings this morning and trimmed guidance in the bargain.
Plug Power Inc. (NASDAQ: PLUG) dropped about 6% Wednesday to post a new 52-week low of $1.00 after closing Tuesday at $1.06. The 52-week high is $2.28. Volume of nearly 11 million was about 3 times the daily average of around 3.7 million shares traded. The company had no specific news Wednesday.
Infosys Ltd. (NYSE: INFY) dropped about 2.5% on Wednesday to record a new 52-week low of $13.42. The stock closed at $13.77 on Tuesday. Volume was about 30% above the daily average of around 6.9 million shares. The company had no specific news.
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