Investing

Valeant, JC Penney Plunge Into Tuesday's 52-Week Low Club

March 13, 2017: Here are four stocks trading with relatively heavy volume among 116 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 2 to 1 and on the Nasdaq decliners also led advancers by about 2 to 1.

Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped more than 13% Tuesday, to post a new 52-week low of $10.50 after closing at $12.11 on Monday. The stock’s 52-week high is $53.90. Volume was nearly 4 times the daily average of around 17 million shares. Hedge fund manager Bill Ackman sold his entire stake in the company for a loss of $3 billion.

Frontier Communications Inc. (NASDAQ: FTR) posted a new 52-week low of $2.41 on Tuesday, down about 4.7% compared with Monday’s closing price of $2.53. The stock’s 52-week high is $5.75. Volume was about 50% above the daily average of around 27 million shares. The company had no specific news today, but the dividend yield has risen to 15.73%.

Anthera Pharmaceuticals Inc. (NASDAQ: ANTH) dropped nearly 41% Tuesday, to post a new 52-week low of $0.41 after closing at $0.69 on Monday. The stock’s 52-week high is $4.41. Volume was more than 8 times the daily average of around 2 million shares. The company priced a secondary stock offering of 30 million shares at $0.50 a share this morning.

J.C. Penney Co. Inc. (NYSE: JCP) dropped about 2.3% Tuesday to post a new 52-week low of $5.85 after closing Monday at $5.99. Volume of more than 15 million shares was about 40% below the daily average of around 21 million. The company said on Monday that it was expanding into the home services market. Investors were not thrilled apparently.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.