General Electric, AT&T Tumble into Thursday’s 52-Week Low Club

September 7, 2017 by Paul Ausick

September 7, 2017: Here are four stocks trading with heavy volume among 96 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers and decliners traded approximately evenly and on the Nasdaq decliners led advancers by about 15 to 14.

General Electric Co. (NYSE: GE) posted a new 52-week low of $23.83 on Thursday, down about 4.4% from Wednesday’s closing price of $24.92. The stock’s 52-week high is $32.38. Volume totaled around 63 million shares, about 70% above the daily average. The company sold its remaining stake in Penske Truck Leasing, but a Morgan Stanley analyst reiterated an Underweight rating and a price target of $22 to cause most of the damage.

AT&T Inc. (NYSE: T) dropped about 2.7% Thursday to post a new 52-week low of $35.59 after closing at $36.57 on Wednesday. The 52-week high is $43.03. Volume was around 40 million, approaching double the daily average. The company had no specific news, but competitor T-Mobile announced a free Netflix subscription to new subscribers and in the cutthroat world of mobile networks, that’s a big deal.

Whiting Petroleum Corp. (NYSE: WLL) dropped about 9.3% Thursday to post a new 52-week low of $4.18 after closing Wednesday at $4.61. The 52-week high is $13.39. Volume of around 27 million shares traded was about 30% above the daily average. The company this morning announced a reverse stock split in a whole-number ratio of between 1-for-2 and 1-for-6. These always play poorly with investors.

Hewlett Packard Enterprise Co. (NYSE: HPE) dropped about 3.6% Thursday to post a new 52-week low of $13.28 after closing at $13.77 on Wednesday. The stock’s 52-week high is $19.16. Volume of around 20 million was about 50% above the daily average. The company reported earnings Tuesday night, but the better-than -expected results couldn’t keep the stock from dipping in subsequent trading.

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.