The 52-Week Low Club for Thursday

Investing

Published: March 24, 2016 4:04 pm

Last Updated: March 13, 2020 7:17 pm

March 24, 2016: Here are four stocks trading with relatively heavy volume among 55 equities making new 52-week lows in Thursday’s session.

Portola Pharmaceuticals Inc. (NASDAQ: PTLA) posted a new 52-week low on Thursday. Shares traded at a low of $20.00, down about 30%, after closing at $28.62 on Wednesday. The stock’s 52-week high is $57.96. Volume totaled nearly 20 times the daily average of around 770,000 shares. The company announced a failure to meet expected thresholds in a phase 3 trial.

Lannett Company Inc. (NYSE: LCI) dropped about 16% on Thursday to post a new 52-week low at $17.08 after closing at $20.36 on Wednesday. The stock’s 52-week high is $72.44. Share volume of about 3.5 million was more than 3 times higher than the daily average of around 1.1 million shares traded. Canaccord Genuity downgraded the stock after Lannett revised 2016 guidance on Wednesday.

H&R Block Inc. (NYSE: HRB) dropped about 1.4% on Thursday to post a new 52-week low of $26.62 against a 52-week high of $37.53. The stock closed at $26.99 on Wednesday night. Volume totaled about 2.4 million shares compared with the stock’s daily average volume of around 3.2 million. The tax preparation company had no specific news on Thursday.

ALSO READ: Merrill Lynch Still Very Bearish: 4 Safe Dividend Stocks to Buy Now

Teekay Tankers Ltd. (NYSE: TNK) fell by about 7.1% on Thursday to post a new 52-week low of $3.26 against a high of $8.53. The stock closed at $3.51 on Wednesday night. Volume rose to around 2.3 million shares, about 10% lower than the daily average of around 2.6 million shares traded. The shipping company had no specific news on Thursday, but low oil prices are not helping.

Smart Investors Are Quietly Loading Up on These “Dividend Legends” (Sponsored)

If you want your portfolio to pay you cash like clockwork, it’s time to stop blindly following conventional wisdom like relying on Dividend Aristocrats. There’s a better option, and we want to show you. We’re offering a brand-new report on 2 stocks we believe offer the rare combination of a high dividend yield and significant stock appreciation upside. If you’re tired of feeling one step behind in this market, this free report is a must-read for you.

Click here to download your FREE copy of “2 Dividend Legends to Hold Forever” and start improving your portfolio today.