Celgene, Weatherford Drop into Wednesday's 52-Week Low Club

Investing

Published: February 28, 2018 4:04 pm

Last Updated: January 12, 2020 2:55 am

February 28, 2018: Here are four stocks trading with heavy volume among 161 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by less than 3 to 1 and on the Nasdaq, advancers led decliners by about the same ratio.

Celgene Corp. (NASDAQ: CELG) traded down about 9% Wednesday and posted a new 52-week low of $87.11 after closing Tuesday at $95.78. The stock’s 52-week high is $147.17. Volume was more than three times the daily average of around 7 million shares. The FDA rejected the company’s New Drug Application for its MS treatment.

Weatherford International plc (NYSE: WFT) fell about 8.1% Wednesday to post a new 52-week low of $2.60 after closing at $2.83 on Tuesday. The 52-week high is $7.09. Volume of more than 18 million was about 25% below the daily average. The company had no specific news.

Akorn Inc. (NASDAQ: AKRX) dropped nearly 10% Wednesday to post a new 52-week low of $16.79. Shares closed at $18.65 on Tuesday and the stock’s 52-week high is $34.00. Volume was nearly 12 million, about seven times the daily average. A potential acquirer announced Monday that it might conduct an investigation into possible data breaches at Akorn.

Cemex SAB de CV (NYSE: CX) traded down 4.3% Wednesday and posted a new 52-week low of $6.45 after closing Tuesday at $6.73. The stock’s 52-week high is $10.37. Volume was around 11.6 million, about 15% above the daily average of around 10.6 million. The company had no specific news.