Concordia, Vodafone in Monday’s 52-Week Low Club

November 7, 2016 by Paul Ausick

November 7, 2016: Here are four stocks trading with relatively heavy volume among 106 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by nearly 5 to 1 and on the Nasdaq advancers led decliners by about 4 to 1.

Concordia International Corp. (NASDAQ: CXRX) lost nearly 39% Monday to post a new 52-week low of $1.95 after closing Friday at $3.19. The 52-week high is $44.00. Volume of around 14 million was about 7 times daily average of around 2 million shares traded. The specialty pharmaceutical company reported disappointing results Monday morning.

Cempra Inc. (NASDAQ: CEMP) dropped about 12.6% on Monday to post a new 52-week low of $6.60 after closing at $7.55 on Friday. The stock’s 52-week high is $34.24. Volume was nearly 10 times the daily average of around 1.3 million shares. Response to an FDA approval on its pneumonia treatment has been muted by other side effects of the drug that could still lead to its final rejection.

Novo Nordisk A/S (NYSE: NVO) dropped about 1% on Monday to post a new 52-week low of $34.01 against a 52-week high of $59.00. Volume of more than 7 million was nearly double the daily average of about 3.8 million. The stock closed at $34.35 on Friday night. The company had no specific news.

Vodafone Group plc (NASDAQ: VOD) dropped about 0.4% on Monday to post a new 52-week low of $24.00 after closing at $24.12 on Friday. The stock’s 52-week high is $28.13. Volume of more than 5.8 million was about 20% above the daily average of around 4.8 million shares. Shares bounced back and are on track to close up about 0.1%. On Friday, Vodafone announced the sale of its fixed line and broadband business in the Netherlands to a subsidiary of Deutsche Telekom.

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