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

Investing

Published: April 19, 2017 4:04 pm

Last Updated: January 12, 2020 12:51 pm

April 19, 2017: Here are four stocks trading with relatively heavy volume among 71 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 led decliners by about 4 to 3.

Frontier Communications Corp. (NASDAQ: FTR) dropped about 5.2% Wednesday to post a 52-week low of $1.84 after closing at $1.94 Tuesday night. The stock’s 52-week high is $5.75. Volume was about 10% lower than the daily average of nearly 42 million shares. The company had no specific news.

Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $4.10 on Wednesday, down about 8.3% compared with Tuesday’s closing price of $4.47. The stock’s 52-week high is $8.77. Volume was about 10% above the daily average of around 24.7 million shares. The drop came in the afternoon, following a report that the Federal Trade Commission may block the company’s pending takeover by Walgreens.

Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 0.3% Wednesday to match a 52-week low of $8.92 after closing Tuesday at $8.95. The stock’s 52-week high is $38.50. Volume of around 8.5 million shares was more than 50% below the daily average of around 18.6 million. The company had no specific news.

DryShips Inc. (NASDAQ: DRYS) dropped about 1.2% Wednesday to post a new 52-week low of $1.69 after closing at $1.71 on Tuesday. This is new low since the April 11 1-for-4 reverse stock split. Volume was about 8.3 million shares. The company announced the acquisition of three more cargo vessels this morning.

The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%¹ today. Checking accounts are even worse.

But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

¹https://www.fdic.gov/national-rates-and-rate-caps