The 52-Week Low Club for Friday
ThinkstockMay 8, 2015: Here are four stocks among the 46 equities making new 52-week lows today. MannKind Corp. (NASDAQ: MNKD) dropped more than 12% on Friday to post a new 52-week low of $3.52 against a 52-week high of $11.48.…
May 8, 2015: Here are four stocks among the 46 equities making new 52-week lows today.
MannKind Corp. (NASDAQ: MNKD) dropped more than 12% on Friday to post a new 52-week low of $3.52 against a 52-week high of $11.48. The stock closed at $4.02 on Thursday night. Volume was more than 3-times the daily average of around 5.2 million shares. The drug maker took a hit on a cut to the stock’s price target after earnings were announced last night.
Windstream Holdings Inc. (NASDAQ: WIN) dropped about 7.3% on Friday to post a new 52-week low of $9.11 after closing at $9.83 on Thursday. The stock’s 52-week high is $20.84. Share volume was about 10% higher than the daily average of around 8 million shares traded. The company reported earnings Thursday morning and even though the company beat estimates, shares have fallen for two straight days.
Summit Midstream Partners LP (NYSE: SMLP) dropped about 1.6% on Friday to post a new 52-week low of $30.27 after closing at $30.75 on Thursday. The stock’s 52-week high is $56.49. Share volume was 3-times the daily average of around 185,000 shares traded. The pipeline partnership priced an offering of 6.5 million common units at $30.75.
LendingClub Corp. (NYSE: LC) posted a new 52-week low on Friday. Shares dropped about 3.7% to $16.25 from Thursday’s closing price of $17.30. The stock’s post-IPO high is $29.29. Volume was about double the daily average of around 2.4 million shares. The company posted a smaller-than-expected first quarter loss on Wednesday and shares jumped more than 10% but have been sliding ever since.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.