The 52-Week Low Club for Wednesday
March 16, 2016: Here are four stocks trading with heavy volume among 53 equities making new 52-week lows in Wednesday’s session. Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped another 6.9% on Wednesday to post a new 52-week low at $31.20…
March 16, 2016: Here are four stocks trading with heavy volume among 53 equities making new 52-week lows in Wednesday’s session.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped another 6.9% on Wednesday to post a new 52-week low at $31.20 after closing at $33.51 on Tuesday. The stock’s 52-week high is $263.81. Share volume of about 50 million was more than 4 times the daily average of around 11 million shares traded. The drug company continues its slide following all the bad news on Tuesday.
Mallinckrodt PLC (NYSE: MNK) dropped about 14.5% on Wednesday to post a new 52-week low of $50.90 against a 52-week high of $134.26. The stock closed at $59.51 on Tuesday night. Volume rose to more than 7 times the stock’s daily average volume of around 2.1 million. Another drug maker’s stock that is being attacked by a short seller at a time when the sector’s stock are quite vulnerable.
Endo Pharmaceutical plc (NASDAQ: ENDP) fell by about 1.6% on Wednesday to post a new 52-week low of $32.04 against a high of $96.58. The stock closed at $32.57 on Tuesday night. Volume rose to around 12.5 million shares, about 3 times the daily average of around 4.5 million shares traded. The company climbed out of its hole today and is on track to add about 4.2% by the closing bell.
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Peabody Energy Corp. (NYSE: BTU) posted a new 52-week low on Wednesday. Shares traded at a low of $2.00, down about 50%, after closing at $4.01 on Tuesday. The stock’s 52-week high is $99.90. Volume totaled nearly 5 times the daily average of around 540,000 million shares. The coal miner said Wednesday that it may not be able to continue as a going concern.
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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.