June 22, 2016: Here are four stocks trading with relatively heavy volume among 40 equities making new 52-week lows in Wednesday’s session. NYSE decliners led advancers by 5 to 4 while Nasdaq decliners led advancers a similar margin.
Verifone Systems Inc. (NYSE: PAY) posted a new 52-week low on Wednesday. Shares traded at a low of $18.45, down about 0.5%, after closing at $18.55 on Tuesday. The stock’s 52-week high is $36.04. Volume was approaching triple the daily average of around 2.3 million shares. The payment processing firm announced a change in its compensation plan for certain executives under certain circumstances. Shares turned higher almost immediately and traded up  about 4.5% shortly before the closing.
Biogen Inc. (NASDAQ: BIIB) dropped about 0.4% on Wednesday to post a new 52-week low of $232.16 against a 52-week high of $417.68. Volume reached about 30% higher than the daily average of around 1.8 million. The stock closed at $233.00 on Tuesday night. Biotech stocks continue to react badly to reports that government regulators may lower the ceiling on Medicare drug spending.
Alexion Pharmaceuticals Inc. (NASDAQ: ALXN) dropped about 1.7% on Wednesday to post a new 52-week low of $122.09 against a 52-week high of $208.88. Volume was about 75% above the daily average of around 1.6 million. The stock closed at $124.14 on Tuesday night. The company had no specific news Wednesday.
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) fell by about 1.2% on Wednesday to post a new 52-week low of $341.17 against a high of $605.93. The stock closed at $345.14 on Tuesday night. Volume reached about 1.6 million shares,about 65% above the stock’s daily average of around 930.000. The third of the big losers Wednesday, again down to worries about Medicare spending limits.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
