Macquarie Infrastructure, Apache Corp. Slide into Thursday's 52-Week Low Club

Investing

Published: February 22, 2018 4:04 pm

Last Updated: January 12, 2020 3:08 am

February 22, 2018: Here are four stocks trading with heavy volume among 88 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 8 to 7 and on the Nasdaq, decliners led advancers by less than 4 to 3.

Macquarie Infrastructure Corp. (NYSE: MIC) fell nearly 42% Thursday to post a new 52-week low of $37.06 after closing at $63.62 on Wednesday. The 52-week high is $81.74. Volume of about 24 million was nearly 30 times the daily average. The company chopped its dividend by about 28% to $4 a year. There’s no better way to make investors flee.

Veon Ltd. (NASDAQ: VEON) traded down about 13.7% Thursday and posted a new 52-week low of $3.09 after closing Wednesday at $3.58. The stock’s 52-week high is $4.50. Volume was about six times the daily average of 3.5 million shares. The communications provider said its quarterly results were worse than expected due to a devaluation in foreign currency.

Brookdale Senior Living Inc. (NYSE: BKD) traded down about 24% Thursday and posted a new 52-week low of $6.72 after closing Wednesday at $8.90. The stock’s 52-week high is $15.66. Volume was around 15.5 million, nearly 7 times the daily average. The company reported quarter earnings this morning and announced that it had rejected a buyout offer and that its executive chairman has retired.

Apache Corp. (NYSE: APA) dropped about 7.3% Thursday to post a new 52-week low of $34.50. Shares closed at $37.20 on Wednesday and the stock’s 52-week high is $55.23. Volume was over 11 million, about three times the daily average of around 3.9 million. The company reported quarterly results this morning, but investors were not impressed.

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