Investing
General Electric, Sprint Crash into Thursday's 52-Week Low Club
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January 18, 2018: Here are four stocks trading with heavy volume among 70 equities making new 52-week lows in Thursday’s session. On the NYSE decliners led advancers by about 11 to 4 and on the Nasdaq, decliners led advancers by about 9 to 5.
General Electric Co. (NYSE: GE) traded down about 3.2% Thursday and posted a new 52-week low of $16.80 after closing Wednesday at $17.35. The 52-week high is $31.34. Volume was over 139 million, more than double the daily average of around 87 million shares. The company had no specific news, but talk of a breakup is hurting the stock.
Diffusion Pharmaceuticals Inc. (NASDAQ: DFFN) dropped abour 42% Thursday to post a new 52-week low of $0.64 after closing at $1.11 on Wednesday. The stock’s 52-week high is $6.93. Volume was nearly 11 million, about 30 times the daily average of around 370,000. The company said this morning that it plans to raise $12 million in a common stock plus warrant offering at $0.80 per unit. Existing shareholders hate this sort of thing.
Sprint Corp. (NYSE: S) dropped nearly 4.6% Thursday to post a 52-week low of $5.24 after closing at $5.49 on Wednesday. The 52-week high is $9.65. Volume was around 21 million, about 20% more than the daily average. The company this morning announced a partnership deal with cable operator Cox.
Symantec Corp. (NASDAQ: SYMC) fell about 6.8% Thursday to post a new 52-week low of $25.65 after closing at $27.52 on Wednesday. The 52-week high is $34.20. Volume of about 9.7 million was roughly 60% above the daily average of around 5.9 million. Analysts at Jefferies dropped their rating on the stock to Neutral and lowered the price target from $30 to $23.
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