The 52-Week Low Club for Friday
April 22, 2016: Here are four stocks trading with relatively heavy volume among 15 equities making new 52-week lows in Friday’s session. NYSE advancing stocks led decliners by more than 2 to 1 while Nasdaq advancers led decliners by about 3 to 2 in Friday’s trading.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) dropped about 0.5% on Friday to post a new 52-week low at $8.23 after closing at $8.27 on Thursday. The stock’s 52-week high is $11.81. Share volume of around 13 million was more than 3 times the daily average of about 4 million shares traded. The Swedish electronics maker reported weak quarterly revenues Thursday and the selling has slowed but not stopped on the stock.
Perrigo Company plc (NYSE: PRGO) fell by about 6.7% on Friday to post a new 52-week low of $120.10 against a high of $205.72. The stock closed at $128.68 on Thursday night. Volume totaled around 8 million shares, about 4 times its daily average. The company’s CEO is said to be in talks to take over at Valeant.
Seagate Technology plc (NASDAQ: STX) posted a new 52-week low on Friday. Shares traded at a low of $25.01, down about 1.7%, after closing at $25.43 on Thursday. The stock’s 52-week high is $60.09. Volume totaled 10% below the daily average of around 6.6 million shares. The hard drive maker had no specific news Friday.
Vector Group Ltd. (NYSE: VGR) dropped about 3.4% on Friday to post a new 52-week low of $20.30 against a 52-week high of $25.60. The stock closed at $21.01 on Thursday night. Volume was about 60% higher than the stock’s daily average volume of around 735,000 shares. The cigarette maker had no specific news on Friday.