Coty, DryShips Sink into Monday’s 52-Week Low Club
April 10, 2017 by Paul AusickApril 10, 2017: Here are four stocks trading with relatively heavy volume among 61 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 2 to 1 and on the Nasdaq decliners led advancers by about 15 to 14.
DryShips Inc. (NASDAQ: DRYS) dropped about 17% Monday to post a new 52-week low of $0.58 after closing at $0.70 on Friday. Volume was equal to the daily average of nearly 32 million. The company said late Thursday that it will execute a 1-for-4 reverse stock split effective April 11. This marks the fifth reverse split in the firm’s stock in 13 months. DryShips also amended a credit facility Monday the company had with an entity controlled by DryShips founder, chairman, and CEO George Economou.
OncoMed Pharmaceuticals Inc. (NASDAQ: OMED) dropped nearly 44% Monday to post a new 52-week low of $4.94 after closing Friday at $8.76. The stock’s 52-week high is $15.49. Volume of about 3.3 million shares was nearly 20 times the daily average of around 182,000. A proposed deal with Bayer AG fell through and one of the company’s drugs failed a phase 2 clinical trial.
Coty Inc. (NYSE: COTY) posted a new 52-week low of $16.96 on Monday, down about 0.5% compared with Friday’s closing price of $17.05. The stock’s 52-week high is $31.60. Volume was about 45% below the daily average of around 5.6 million shares. The company had no specific news.
Kimco Realty Corp. (NYSE: KIM) dropped about 0.3% Monday to post a new 52-week low of $21.43 after closing at $21.50 on Friday. The stock’s 52-week high is $32.24. Volume was about 20% below the daily average of around 3.7 million shares. The company had no specific news and was on its way to posting a daily gain just before the closing bell.
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