Ericsson, Nike Drop in on Tuesday’s 52-Week Low Club

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October 25, 2016: Here are four stocks trading with relatively heavy volume among 74 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by nearly 2 to 1 and on the Nasdaq decliners led advancers by slightly more than 2 to 1.

Dipexium Pharmaceuticals Inc. (NASDAQ: DPRX) dropped 85% on Tuesday to post a new 52-week low of $1.90 against a 52-week high of $17.75. Volume of about 20 million was nearly 30 times the daily average of just 63,000. The stock closed at $12.75 on Monday night. The pharmaceuticals maker’s drug trial failed for a diabetic foot ulcer treatment.

Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) lost about 2.2% Tuesday to post a new 52-week low of $4.99 after closing Monday at $5.10. The 52-week high is $10.20. Volume of about 15 million was more than double the daily average of about 6.3 million shares traded. The network equipment maker was downgraded to Neutral this morning by analysts at J.P. Morgan.

Sonic Corp. (NASDAQ: SONC) dropped about 21% on Tuesday to post a new 52-week low of $21.12 after closing at $26.49 on Monday. The stock’s 52-week high is $36.34. Volume was more than 10 times the daily average of around 950,000 shares. The company reported weak fourth-quarter results late Monday.

Nike Inc. (NYSE: NKE) lost about 2.2% Tuesday to post a new 52-week low of $50.71 after closing Monday at $51.87. The 52-week high is $68.19. Volume of about 12.5 million was about a third higher than the daily average of around 8.9 million shares traded. The company had no specific news, but was wounded by the weak forecast from competitor Under Armour this morning.