The 52-Week Low Club for Wednesday
June 8, 2016: Here are four stocks trading with relatively heavy volume among 11 equities making new 52-week lows in Wednesday’s session. NYSE advancers led decliners by more than 2 to 1 while Nasdaq advancers led decliners by about the same margin.
Verifone Systems Inc. (NYSE: PAY) fell by more than 30% on Wednesday to post a new 52-week low of $19.71 against a high of $37.06. The stock closed at $28.23 on Tuesday night. Volume topped 35 million shares, more than 30 times the stock’s daily average of around 1.4 million. The payment systems provider reported poor earnings and cut it outlook, a sure-fire way to send the share price down.
JD.com Inc. (NASDAQ: JD) dropped by about 3.4% on Wednesday to post a new 52-week low at $21.27 after closing at $22.01 on Tuesday. The stock’s 52-week high is $38.00. Daily volume totaled around 22 million shares, more than 50% above the average of around 14 million shares. The Chinese internet firm had no specific news Wednesday.
ProNAi Therapeutics Inc. (NASDAQ: DNAI) posted a new 52-week low on Wednesday. Shares traded at a low of $2.01, down nearly 3%, after closing at $2.07 on Tuesday. The stock’s 52-week high is $33.75. Volume was about 7 times the daily average of around 430,000 shares. The drug maker reported poor results in a cancer drug trial Tuesday morning and the sell-off is slowing, but not over yet. https://247wallst.com/healthcare-business/2016/06/06/why-pronai-could-be-the-biggest-loser-at-asco/
Cal-Maine Foods Inc. (NASDAQ: CALM) dropped about 2.7% on Wednesday to post a new 52-week low of $41.80 against a 52-week high of $63.25. The stock closed at $42.95 on Tuesday night. Volume was about 25% higher than the stock’s daily average volume of around 700,000 shares. The egg-producing company had no specific news Wednesday.