Ericsson, Gilead Tumble Into Wednesday’s 52-Week Low Club
October 12, 2016: Here are four stocks trading with relatively heavy volume among 52 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by a slim margin and on the Nasdaq decliners led advancers by…
October 12, 2016: Here are four stocks trading with relatively heavy volume among 52 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by a slim margin and on the Nasdaq decliners led advancers by an equally slim margin.
Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) dropped nearly 21% on Wednesday to post a new 52-week low of $5.56 against a 52-week high of $10.58. Volume of about 51 million was approaching 14 times the daily average of around 4 million. The stock closed at $7.01 on Tuesday night. The Swedish network gear maker warned on revenues and earnings this morning.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1.2% on Wednesday to post a new 52-week low of $72.96 after closing at $73.82 on Tuesday. The stock’s 52-week high is $111.11. Volume was about 20% below the daily average of around 10.6 million shares. The company had no specific news Wednesday.
Vodafone Group plc (NASDAQ: VOD) lost about 0.7% Wednesday to post a new 52-week low of $27.66 after closing Tuesday at $27.85. The 52-week high is $34.70. Volume of around 5 million was about 10% above the daily average of around 4.5 million shares traded. The company had no specific news Wednesday.
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Teva Pharmaceuticals Industries Ltd. (NYSE: TEVA) lost nearly 1.3% Wednesday to post a new 52-week low of $44.00 after closing Tuesday at $44.56. The 52-week high is $66.55. Volume of around 3.8 million was about 40% below the daily average of about 6.4 million shares traded. The company had no specific news.
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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.