Rite Aid, Frontier Communications Dive into Wednesday's 52-Week Low Club

Investing

Published: March 22, 2017 4:04 pm

Last Updated: January 12, 2020 1:42 pm

March 22, 2017: Here are four stocks trading with relatively heavy volume among 161 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by about 4 to 3.

Frontier Communications Inc. (NASDAQ: FTR) dropped more than 17% Wednesday, to post a new 52-week low of $1.95 after closing at $2.36 on Tuesday. The stock’s 52-week high is $5.75. Volume was more than double the daily average of around 34 million shares. Goldman Sachs suggested this morning that the company may have to suspend its dividend.

Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $4.39 on Wednesday, down about 2% compared with Tuesday’s closing price of $4.48. Volume was less than half the daily average of around 26 million shares. The company had no specific news.

Cobalt International Energy Inc. (NYSE: CIE) dropped about 10% Wednesday to post a new 52-week low of $0.35 after closing Tuesday at $0.39. The stock’s 52-week high is $3.50. Volume of more than 13 million shares was nearly double the daily average of around 7 million. The company had no specific news.

Fitbit Inc. (NYSE: FIT) dropped about 3.9% Wednesday, to post a new 52-week low of $5.38, an all-time low, after closing at $5.60 on Tuesday. The stock’s 52-week high is $18.85. Volume was about 30% below the daily average of around 11.6 million shares. The company had no specific news.

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