Nokia, GNC Dip into Thursday's 52-Week Low Club
October 27, 2016: Here are four stocks trading with relatively heavy volume among 133 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by nearly 4 to 1 and on the Nasdaq decliners led advancers by more than 2 to 1.
Community Health Systems Inc. (NYSE: CYH) dropped 50% on Thursday to post a new 52-week low of $5.02 against a 52-week high of $26.55. Volume of about 51 million was more than 10 times the daily average of around 4.8 million. The stock closed at $10.03 on Wednesday night. The hospital operations company warned on third-quarter profits ahead of next week’s scheduled earnings release.
Nokia Corp. (NYSE: NOK) dropped about 8.7% on Thursday to post a new 52-week low of $4.71 after closing at $5.16 on Wednesday. The stock’s 52-week high is $7.63. Volume was nearly 3 times the daily average of around 11.5 million shares. The Finland-based company reported poor sales and earnings this morning.
GNC Holdings Inc. (NYSE: GNC) lost nearly 25% Thursday to post a new 52-week low of $15.18 after closing Wednesday at $20.14. The 52-week high is $35.90. Volume of about 14.5 million was about 7 times the daily average of around 2 million shares traded. The nutrition company missed both revenue and profit expectations this morning.
Under Armour Inc. (NYSE: UA) dropped about 3.7% on Thursday to post a new 52-week low of $30.63 after closing at $31.81 on Wednesday. The stock’s 52-week high is $48.77. Volume was about 3 times the daily average of around 5 million shares. The company reported weak results Tuesday and damage control has yet to kick in.