Investing
Dermira, Allergan Plunge into Monday's 52-Week Low Club
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March 5, 2018: Here are four stocks trading with heavy volume among 58 equities making new 52-week lows in Monday’s session. On the NYSE advancers led decliners by more than 2 to 1 and on the Nasdaq, advancers led decliners by the same ratio.
Dermira Inc. (NASDAQ: DERM) traded down about 64% Monday and posted a new 52-week low of $8.95 after closing Friday at $25.16. The stock’s 52-week high is $38.39. Volume was about 40 times the daily average of around 615,000 shares. The company’s trial of a new acne treatment failed to meet the designated endpoints.
BRF SA (NYSE: BRFS) dropped nearly 20% Monday to post a new 52-week low of $7.58. Shares closed at $9.42 on Friday and the stock’s 52-week high is $15.50. Volume was around 13.4 million, about six times the daily average. The Brazilian food processor’s former CEO has been arrested for fraud.
Park Hotels & Resorts Inc. (NYSE: PK) fell about 2.7% Monday to post a new 52-week low of $23.91 after closing at $24.42 on Friday. The 52-week high is $29.93. Volume of more than 4.1million was more than double the daily average. The company announced a secondary offering of nearly 33 million shares along with an additional 4.94 million as an underwriter’s option and a private transaction involving another 15.75 million shares. All shares in the offering are being sold by HNA HLT Holdco I LLC, and none of the proceeds go to Park.
Allergan plc (NYSE: AGN) traded down about 0.8% Monday and posted a new 52-week low of $142.84 after closing Friday at $144.02. The stock’s 52-week high is $256.80. Volume was around 3.1 million, about 10% below the daily average of around 3.3 million. The company had no specific news.
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