Investing
Rite Aid, O'Reilly Automotive Tumble into Wednesday's 52-Week Low Club
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July 5, 2017: Here are four stocks trading with heavy volume among 62 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 3 to 2 and on the Nasdaq, decliners led advancers by about 4 to 3.
Rite Aid Corp. (NYSE: RAD) dropped about 8.2% Wednesday to post a new 52-week low of $2.61 after closing Monday at $2.69. The 52-week high is $8.77. Volume was around 60 million shares traded, about double the daily volume of about 29.8 million. The company had no specific news Wednesday.
Yamana Gold Inc. (NYSE: AUY) dropped about 4.6% Wednesday to post a new 52-week low of $2.27 after closing at $2.38 on Monday. The stock’s 52-week high is $5.99. Volume of about 18.5 million was around 15% above the daily average of nearly 14 million. The company had no specific news.
O’Reilly Automotive Inc. (NASDAQ: ORLY) posted a new 52-week low of $173.89 on Wednesday, down about 21% compared with Monday’s closing price of $220.41. The stock’s 52-week high is $292.84. Volume totaled more than 11 million shares, about 9 times the daily average. The company reported June same-store sales would be well below initial estimates.
Advance Auto Parts Inc. (NYSE: AAP) dropped about 16.3% Wednesday to post a new 52-week low of $99.13 after closing at $118.41 on Monday. Volume was about 6.5 million, more than 5 times higher than the daily average of around 5 million shares. The other falling shoe in the O’Reilly story is that Amazon may be decimating all traditional auto parts stores’ business.
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