The 52-Week Low Club
Neurochem (NRMX) Continues to race for the bottom. On Monday, the company said its Alzheimer’s disease treatment candidate, Alzhemed, failed a late-stage trial. The NRMX says it has 15 to 18 months of cash left. Maybe. Drops to $2.16 from 52-week high of $26.51.
Conexant (CNXT) Israel’s Orckit Communications wins arbitration and CNXT has to pay $12 million. Does not seem like a lot but stock drops to $1.06 from 52-week high of $2.36.
Tenet Healthcare (THC) Credit Suisse analyst launched coverage on the company with an “Underperform” rating. Down to $3.29 from 52-week high of $8.69.
Lennar (LEN) Home builder. Enough said. Down to $27.26 from 52-week high of $56.54.
Centex (CTX) Home builder. Ditto. Down to $28.13 from 52-week high of $58.42.
Horton (DHI) Another home builder. Drops to $14.40 from 52-week high of $31.13.
Leapfrog (LF) Bad quarter recently and toy companies are not all the rage right now. Down to $6.91 from 52-week high of $11.56.
Douglas A. McIntyre