Rite Aid, Walgreens Once Again Dip into Tuesday’s 52-Week Low Club
October 10, 2017 by Paul AusickOctober 10, 2017: Here are four stocks trading with heavy volume among 40 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 2 to 1 and on the Nasdaq advancers led decliners by about the same ratio.
Rite Aid Corp. (NYSE: RAD) dropped about 2.1% Tuesday to post a new 52-week low of $1.84 after closing at $1.89 on Monday. The stock’s 52-week high is $8.77. Volume of around 38 million was about 25% above the daily average. The company had no specific news.
Walgreens Boots Alliance Inc. (NASDAQ: WBA) dropped about 2.2% Tuesday to post a new 52-week low of $69.28 after closing at $70.87 on Monday. The 52-week high is $89.69. Volume was around 9.7 million, about 50% above the daily average. The company’s stock was downgraded by one analyst on Monday, but the scare for Walgreens and Rite Aid is that Amazon is said to be thinking about making a challenge in the pharmacy business.
DaVita Inc. (NYSE: DVA) dropped about 0.6% Tuesday to post a new 52-week low of $53.58 after closing at $53.89 on Monday. The 52-week high is $70.16. Volume was around 7 million, more than 4 times the daily average of about 1.6 million. The company took a downgrade on Monday from J.P. Morgan. Shares are on track to close with a gain of about 1.2% after posting the new low early this morning.
Organovo Holdings Inc. (NASDAQ: ONVO) posted a new 52-week low of $1.70 on Tuesday, down about 12.8% from Monday’s closing price of $1.95. The stock’s 52-week high is $4.08. Volume totaled around 4.8 million shares, about 6 times the daily average. The company had no specific news Tuesday.
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