FitBit, DryShips Slip into Wednesday’s 52-Week Low Club

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December 14, 2016: Here are four stocks trading with relatively heavy volume among 54 equities making new 52-week lows in Wednesday’s session. On the NYSE, decliners led advancers by about 4 to 1 and on the Nasdaq decliners led advancers by about 5 to 2.

Ophthotech Corp. (NASDAQ: OPHT) dropped about 5.1% on Wednesday to post a new 52-week low of $4.87 after closing at $5.13 on Tuesday. The stock’s 52-week high is $80.00. Volume of about 9.3 million shares was more than 4 times the daily average of about 2 million. The company announced a failed late-stage clinical trial on Monday.

FitBit Inc. (NYSE: FIT) dropped about 2.2% on Wednesday to post a new 52-week low of $7.48 after closing at $7.65 on Tuesday. The stock’s 52-week high is $30.96. Volume was nearly 30% below the daily average of around 10 million shares. The company had no specific news.

Universal Health Services Inc. (NYSE: UHS) lost 8.4% Wednesday to post a new 52-week low of $1/99.81 after closing Tuesday at $108.99. The 52-week high is $139.77. Volume of around 5.8 million was nearly 6 times the daily average of around 1 million shares traded. Raymond James downgraded the stock this morning on news of another request for information from the company related to a federal investigation.

DryShips Inc. (NASDAQ: DRYS) dropped about 11.4% on Wednesday to post a new 52-week low of $3.51 against a 52-week high of $435.00 and a Tuesday close of $3.96. Volume of around 4.6 million was nearly equal to the daily average of around 4.8 million. The company had now specific news.