Investing

Valeant, Arena Pharmaceuticals in Tuesday's 52-Week Low Club

April 18, 2017: Here are four stocks trading with relatively heavy volume among 85 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq advancers led decliners by about 7 to 6.

Arena Pharmaceuticals Inc. (NASDAQ: ARNA) posted a new 52-week low of $1.20 on Tuesday, down about 19% compared with Monday’s closing price of $1.48. The stock’s 52-week high is $2.16. Volume was about 10% below the daily average of around 3.8 million shares. The company priced a secondary offering of 60 million shares at $1.15 per share, a path guaranteed to enrage existing investors.

Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 6% Tuesday to post a new 52-week low of $8.92 after closing Monday at $9.48. The stock’s 52-week high is $38.50. Volume of around 20 million shares was about 12 times the daily average of around 1.7 million. The company had no specific news Tuesday.

Frontier Communications Corp. (NASDAQ: FTR) dropped about 2.5% Tuesday to post a 52-week low of $1.92 after closing at $1.97 Monday night. The stock’s 52-week high is $5.75. Volume was about 70% lower than the daily average of nearly 42 million shares. The company had no specific news, but its dividend yield now sits at 21.65%.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 4% Tuesday to post a new 52-week low of $30.86 after closing at $32.15 on Monday. The stock’s 52-week high is $58.16. Volume was about 10% below the daily average of around 9.3 million shares. The company had no specific news.

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.