May 12, 2016: Here are four stocks trading with relatively heavy volume among 106 equities making new 52-week lows in Thursday’s session. NYSE advancers led decliners by a small margin while Nasdaq decliners led advancers by nearly 2 to 1.
Apple Inc. (NASDAQ: AAPL) posted a new 52-week low on Thursday. Shares traded at a low of $89.47, down nearly 3.3%, after closing at $92.51 on Wednesday. The stock’s 52-week high is $132.97. Volume was approaching double the daily average of around 37 million shares. The tech giant has fallen behind Google parent Alphabet Inc. at the top of the list of the world’s most valuable company.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped nearly 11% on Thursday to post a new 52-week low of $23.55 against a 52-week high of $263.81. The stock closed at $26.35 on Wednesday night. Volume was about 65% above the stock’s daily average volume of around 30 million shares. The company had no specific news Thursday.
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Office Depot Inc. (NASDAQ: ODP) dropped by about 11.3% on Thursday to post a new 52-week low at $3.22 after closing at $3.63 on Wednesday. The stock’s 52-week high is $9.37. Daily volume rose to about 4 times the average of about 12.4 million shares. The company’s proposed merger with Staples is history and investors don’t appear to see much future for Office Depot.
LendingClub Corp. (NYSE: LC) fell by 9.8% on Thursday to post a new 52-week low of $3.68 against a high of $19.48. The stock closed at $4.08 on Wednesday night. Volume was about 4 times the stock’s daily average of around 10 million. The Wall Street Journal reported this morning that recently fired CEO Renaud Laplanche encouraged investment in a customer for the company’s loans even though the customer was itself struggling.
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