General Electric, Rite Aid Slip into Thursday's 52-Week Low Club

Investing

Published: July 6, 2017 4:04 pm

Last Updated: January 12, 2020 10:24 am

July 6, 2017: Here are four stocks trading with heavy volume among 113 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by more than 4 to 1 and on the Nasdaq, decliners led advancers by more than 3 to 1.

General Electric Co. (NYSE: GE) dropped about 4.6% Thursday to post a new 52-week low of $26.14 after closing at $27.35 on Wednesday. The stock’s 52-week high is $33.00. Volume of more than 56 million was around 35% above the daily average of nearly 37 million. The company had no specific news, but a downbeat note from analysts at J.P. Morgan caught investors’ attention.

Rite Aid Corp. (NYSE: RAD) dropped about 0.6% Thursday to post a new 52-week low of $2.33 after closing Wednesday at $2.48. The 52-week high is $8.77. Volume was around 47 million shares traded, about 50% above the daily volume of about 30 million. The company had no specific news Thursday.

Frontier Communications Inc. (NASDAQ: FTR) posted a new 52-week low of $1.10 on Thursday, down about 5.2% compared with Wednesday’s closing price of $1.16. The stock’s 52-week high is $5.22. Volume totaled nearly 22 million shares, about 35% below the daily average. The company had no specific news.

Weatherford International plc (NYSE: WFT) dropped about 7% Thursday to post a new 52-week low of $3.67 after closing at $3.95 on Wednesday. Volume was about 18.3 million, around 25% less than the daily average of nearly 24 million shares. The oilfield services business continues to struggle and GE’s acquisition of Baker Hughes has not made it any easier for some competitors.

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