Investing
Lululemon, Cenovus Energy Dive into Thursday's 52-Week Low Club
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March 30, 2017: Here are four stocks trading with relatively heavy volume among 32 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by the same margin.
Lululemon Athletica Inc. (NASDAQ: LULU) dropped nearly 24% Thursday, to post a new 52-week low of $50.50 after closing at $66.30 on Wednesday. The stock’s 52-week high is $81.81. Volume was nearly 40 times the daily average of around 1.6 million. The yoga pants maker disappointed investors when it reported quarterly results last night.
Cenovus Energy Inc. (NYSE: CVE) dropped about 13.6% Thursday to post a new 52-week low of $11.30 after closing Wednesday at $13.08. The stock’s 52-week high is $16.82. Volume of nearly 40 million shares was about 20 times the daily average of around 2 million. The company said last night that it is buying oil sands assets from ConocoPhillips for $13.3 billion, a tidy sum indeed.
Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $4.37 on Thursday, down about 2.5% compared with Wednesday’s closing price of $4.48. The stock’s 52-week high is $8.77. Volume was about 30% below the daily average of around 8.8 million shares. The company had no specific news.
First Solar Inc. (NASDAQ: FSLR) dropped about 3.3% Thursday to post a new 52-week low of $27.11 after closing at $28.03 on Wednesday. The stock’s 52-week high is $69.64. Volume was roughly equal to the daily average of around 2.9 million shares. The company completed the sale of its Moapa project this morning.
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