July 21, 2017: Here are four stocks trading with heavy volume among 55 equities making new 52-week lows in Friday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq, decliners led advancers by more than 4 to 3.
General Electric Co. (NYSE: GE) dropped nearly 5.4% Friday to post a new 52-week low of $25.26 after closing Thursday at $26.69. The 52-week high is $32.38. Volume was over 78 million shares traded, about double the daily average of around 39 million. The industrial giant reported a decent quarter, but the outlook presented in the conference call was less than rosy.
DryShips Inc. (NASDAQ: DRYS) posted a split-adjusted 52-week low of $1.27 on Friday, following a 1-for-7 reverse stock split that became effective this morning at $3.01 per new share.. Volume totaled around 29 million shares, nearly 10 times the daily average. The company announced a 1-for-7 reverse stock split late Thursday that takes effect Friday morning. Today’s was the company’s eighth reverse split since March of 2016.
International Business Machines Corp. (NYSE: IBM) dropped about 0.8% Friday to post a new 52-week low of $146.51 after closing at $146.66 on Thursday. The 52-week high is $182.79. Volume was about 4.5 million, less than 10% higher than the daily average of 4.4 million shares. The company had no specific news Friday.
U.S. Silica Holdings Inc. (NYSE: SLCA) dropped about 4.4% Friday to post a new 52-week low of $30.30 after closing at $31.71 on Thursday. The stock’s 52-week high is $61.49. Volume of about 2.85 million was roughly equal to the daily average. The company had no specific news, but a downgrade on competitor Smart Sands from Credit Suisse on Thursday covered the fracking sand business with, um, dirt.
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