Rite Aid, Verizon Tumble into Tuesday’s 52-Week Low Club

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July 11, 2017: Here are four stocks trading with heavy volume among 116 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by about the same ratio.

Rite Aid Corp. (NYSE: RAD) dropped about 3.8% Tuesday to post a new 52-week  low of $2.25 after closing Monday at $2.34. The 52-week high is $8.77. Volume was around 30 million shares traded, less than 10% below the daily volume of nearly 32 million. The company had no specific news Tuesday.

Abercrombie & Fitch Co. (NYSE: ANF) dropped about 5.3% Tuesday to post a new 52-week low of $9.08 after closing at $9.59 on Monday. The stock’s 52-week high is $23.29. Volume of about 11.5 million was more than 3 times the daily average of around 3.3 million. The company said Monday that it was ending discussions with potential buyers.

Verizon Communications Inc. (NYSE: VZ) dropped about 0.9% Tuesday to post a new 52-week low of $42.82 after closing at $43.20 on Monday. Volume was about 9.2 million, around 30% less than the daily average of more than 15 million shares. The telecom giant had no specific news.

Macy’s Inc. (NYSE: M) posted a new 52-week low of $20.86 on Tuesday, down about 1% compared with Monday’s closing price of $21.08. The stock’s 52-week high is $45.41. Volume totaled around 7.7 million shares, about 15% below the daily average. The company had no specific news, but investors remain jittery about the entire traditional retail sector. The shares came back and are on track to close up about 0.4%.