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General Electric, Verizon Plummet into Wednesday's 52-Week Low Club
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May 16, 2017: Here are four stocks trading with relatively heavy volume among 170 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 4 to 1 and on the Nasdaq decliners led advancers by nearly 6 to 1.
General Electric Co. (NYSE: GE) posted a new 52-week low of $27.43 on Wednesday, down about 2.2% compared with Tuesday’s closing price of $28.04. The stock’s 52-week high is $33.00. Volume totaled about 39 million shares, about 30% above the daily average of about 30 million. The company had no specific news.
American Eagle Outfitters Inc. (NYSE: AEO) dropped nearly 16% Wednesday to post a new 52-week low of $10.91 after closing at $12.96 on Tuesday. The stock’s 52-week high is $19.55. Volume of nearly 23 million was about 5 times the daily average of around 4.7 million shares traded. The specialty retailer’s results didn’t live up to expectations this morning.
Verizon Communications Inc. (NYSE: VZ) dropped about 1.9% Wednesday to post a new 52-week low of $44.46 after closing Tuesday at $45.31. The 52-week high is $56.95. Volume of nearly 17 million shares was more than 15% above the daily average of around 15.6 million. The company had no specific news.
Rite Aid Corp. (NYSE: RAD) dropped about 3.7% Wednesday to post a new 52-week low of $3.64 after closing at $3.78 on Tuesday. The stock’s 52-week high is $8.77. Volume was about 25% lower than the daily average of around 18.6 million shares. The company had no specific news Wednesday.
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