Otonomy, Mondelez Drop into Wednesday’s 52-Week Low Club

August 30, 2017 by Paul Ausick

August 30, 2017: Here are four stocks trading with heavy volume among 94 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by about 9 to 5.

Otonomy Inc. (NASDAQ: OTIC) dropped more than 83% Wednesday to post a new 52-week low of $3.45 after closing Tuesday at $20.80. The 52-week high is $21.15. Volume of around 42 million shares traded was more than 20 times the daily average. The company’s late-stage trial of its treatment for patients with Ménière’s disease missed its primary endpoint and further development has been called off.

General Electric Co. (NYSE: GE) dropped about 1.2% Wednesday to register a new 52-week low of $24.15 after closing at $24.44 on Tuesday. The 52-week high is $32.38. Volume was around 27 million, about 30% below the daily average. The company had no specific news.

Mondelez International Inc. (NASDAQ: MDLZ) posted a new 52-week low of $40.39 on Wednesday, down about 3.6% from Tuesday’s closing price of $41.89. The stock’s 52-week high is $47.23. Volume totaled around 22 million shares, about three times the daily average. The company took a dive today when Warren Buffett said that Kraft Heinz was not interested in buying Mondelez.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 2.9% Wednesday to post a new 52-week low of $15.32 after closing at $15.77 on Tuesday. The stock’s 52-week high is $52.66. Volume of around 15 million was about 10% below the daily average. The company had no specific news.

ALSO READ: General Electric Rolls On as DJIA’s Worst Stock of 2017

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