Investing

Rite Aid, Fitbit Plunge into Monday's 52-Week Low Club

January 30, 2017: Here are four stocks trading with relatively heavy volume among 73 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by more than 3 to 2 and on the Nasdaq decliners led advancers by more than 3 to 1.

Rite Aid Corp. (NYSE: RAD) dropped nearly 18% Monday, to post a new 52-week low of $5.70 after closing at $6.93 on Friday. The stock’s 52-week high is $8.77. Volume was more than 5 times the daily average of around 21 million shares. The company sank after announcing that it will accept a lower price per share to complete its proposed merger with Walgreens.

Fitbit Inc. (NYSE: FIT) dropped more than 18% on Monday to post a new 52-week low of $5.90 against a 52-week high of $18.85 and a Friday close of $7.21. Volume of around 24 million was nearly 3.5 times the daily average of around 12 million. The company announced a layoff and a cut to guidance after a poor fourth quarter.

J.C. Penney Co. Inc. (NYSE: JCP) dropped about 1.6% Monday to post a new 52-week low of $6.35 after closing Friday at $6.45. The 52-week high is $11.99. Volume of nearly 17 million was about 15% below the daily average of around 20 million shares traded. The company had no specific news Monday.

Tempur Sealy International Inc. (NYSE: TPX) dropped about 33% on Monday to record a new 52-week low of $42.51. The stock closed at $63.19 on Friday. Volume was nearly 25 times the daily average of around 930,000 shares. The company announced that its deal with retailer Mattress Firm would probably end this quarter.

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.