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Bristol-Myers, Staples Fall Into Monday’s 52-Week Low Club

October 7, 2016: Here are four stocks trading with relatively heavy volume among 26 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 2.5 to 1 and on the Nasdaq advancers led decliners…

By Paul Ausick
Published October 10, 2016, 4:04pm ET · 2 min read

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October 7, 2016: Here are four stocks trading with relatively heavy volume among 26 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by about 2.5 to 1 and on the Nasdaq advancers led decliners by nearly the same margin.

Bristol-Myers Squibb Co. (NYSE: BMY) dropped more than 10% on Monday to post a new 52-week low of $74.93 against a 52-week high of $111.11. Volume of about 56 million was more than 4 times the daily average of around 12.1 million. The stock closed at $55.43 on Friday night. The company’s stock is tumbling following a failed clinical trial of its lung cancer treatment.

Staples Inc. (NASDAQ: SPLS) lost about 0.5% Monday to post a new 52-week low of $7.99 after closing Friday at $8.03. The 52-week high is $13.50. Volume of around 7 million was about 15% above the daily average of around 6 million shares traded. The company had no specific news Monday.

Novo Nordisk A/S (NYSE: NVO) dropped about 1.5% on Monday to post a new 52-week low of $40.11 after closing at $40.73 on Friday. The stock’s 52-week high is $59.00. Volume was about 60% higher than the daily average of around 2.8 million shares. The company had no specific news.

Fang Holdings Ltd. (NYSE: SFUN) lost about 3.5% Monday to post a new 52-week low of $3.87 after closing Friday at $4.01. The 52-week high is $8.17. Volume of around 3.5 million was slightly below the daily average of around 3.6 million shares traded. The utility company had no specific news. The Beijing-based online real-estate platform had no specific news Monday.

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Paul Ausick

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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