June 16, 2016: Here are four stocks trading with relatively heavy volume among 74 equities making new 52-week lows in Thursday’s session. NYSE advancers and decliners were approximately equal for the day while Nasdaq decliners led advancers by about 5 to 4.
JD.com Inc. (NYSE: JD) dropped by about 12% on Thursday to post a new 52-week low at $17.73 after closing at $20.17 on Wednesday. The stock’s 52-week high is $35.90. Daily volume totaled around 22.5 million shares, about 60% above the daily average of around 15 million shares. The Chinese internet provider had no specific news on again Thursday, but that is not stopping investors from dumping the shares.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) posted a new 52-week low on Thursday. Shares traded at a low of $22.26, down nearly 6%, after closing at $23.66 on Wednesday. The stock’s 52-week high is $263.81. Volume was about 30% below the daily average of around 36 million shares. The company had no specific news, but many analsysts believe that the company must sell assets if it is to survive.
American Airlines Group Inc. (NASDAQ: AAL) dropped about 4.8% on Thursday to post a new 52-week low of $29.02 against a 52-week high of $47.09. Volume was about 50% higher than the daily average of around 9.4 million. The stock closed at $30.49 on Wednesday night. The stock was downgraded this morning by BofA/Merrill Lynch.
Cavium Inc. (NASDAQ: CAVM) fell by about 18.5% on Thursday to post a new 52-week low of $39.13 against a high of $77.42. The stock closed at $48.00 on Wednesday night. Volume reached about 11.5 million shares, more than 10 times the stock’s daily average of around 945,000. The semiconductor company’s stock plunged after the company announced an agreement to acquire QLogic for $1.4 billion.