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General Electric, PG&E Tumble into Monday's 52-Week Low Club
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November 12, 2018: Here are four stocks trading with heavy volume among 250 equities making new 52-week lows on Monday. On the NYSE decliners led advancers by about 2.73 to 1, and on the Nasdaq, decliners led advancers by about 3.17 to 1.
General Electric Co (NYSE: GE) traded down nearly 10% Monday and posted a new 52-week low of $7.73 after closing Friday at $8.58. The stock’s 52-week high is $20.75. Volume was more than double the daily average of around 97 million. The company may still be getting punished for cutting its dividend to a penny and now asset sales are looming.
PG&E Corp. (NYSE: PCG) traded down about 37.5% Monday to set a new 52-week low of $24.96 after closing Friday at $39.92. The stock’s 52-week high is $58.38. Volume was more than six times the daily average of around 6 million. The company said this morning that some of its equipment may have ignited the massive Camp Fire in northern California.
Weatherford International plc (NYSE: WFT) trad1.132.67 on Friday. The stock’s 52-week high is $4.41. Volume was about 15% above the daily average of around 20 million. The oilfield services company had no specific news.
Lumentum Holdings Inc. (NASDAQ: LITE) dropped about 15% Monday to set a new 52-week low of $37.50 Shares closed at $55.95 on Friday and the stock’s 52-week high is $74.40. Volume was about 10 times the daily average of around 1.6 million. The supplier of camera technology to Apple cut its current outlook and warned on profits.
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