August 18, 2016: Here are four stocks trading with relatively heavy volume among 33 equities making new 52-week lows in Thursday’s session. NYSE advancers led decliners by about 2 to 1 and Nasdaq advancers led decliners by slightly less than 2 to 1.
Corrections Corporation of America (NYSE: CXW) dropped about 52% on Thursday to post a new 52-week low of $13.04 after closing at $27.22 on Wednesday. The stock’s 52-week high is $35.05. Volume totaled nearly 50 times the daily average of around 780,000 shares. The private prison REIT was absolutely bludgeoned following a U.S. Justice Department announcement that federal contracts with private operators would now be renewed.
The GEO Group Inc. (NYSE: GEO) lost about 50% Thursday to post a new 52-week low of $16.26 after closing Wednesday at $32.29. The 52-week high is $35.14. Volume of around 22 million was about 50 times higher than the daily average of around 450,000. The other large private prison REIT in the country did not fare any better that its peer.
Auris Medical Holding AG (NASDAQ: EARS) dropped nearly 64% on Thursday to post a new 52-week low of $1.95 against a 52-week high of $7.96. Volume of around 12 million was about 100 times the daily average of around 140,000. The stock closed at $5.35 on Wednesday night. The Switzerland-based healthcare company missed a primary endpoint with its treatment for tinnitus.
Infosys Ltd. (NYSE: INFY) dropped about 1.7% on Thursday to post a new 52-week low of $15.65 against a 52-week high of $20.47. Volume of around 5.6 million was 35% above the daily average of around 4.22 million. The stock closed at $15.92 on Wednesday night. The company had no specific news Thursday.