Weatherford, Brookdale Dive into Tuesday’s 52-Week Low Club
November 1, 2016: Here are four stocks trading with relatively heavy volume among 211 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by more than 3 to 1 and on the Nasdaq decliners led…
November 1, 2016: Here are four stocks trading with relatively heavy volume among 211 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by more than 3 to 1 and on the Nasdaq decliners led advancers by about more than 2 to 1.
Weatherford International Inc. (NYSE: WFT) dropped more than 20% on Tuesday to post a new 52-week low of $3.83 against a 52-week high of $11.49. Volume of more than 145 million was nearly 8 times the daily average of around 19 million. The stock closed at $4.82 on Monday night. A short seller called into question the company’s ability to meet its debt covenants. Weatherford issued a statement that it remains within its covenants.
Brookdale Senior Living Inc. (NYSE: BKD) lost about 25% Tuesday to post a new 52-week low of $10.82 after closing Monday at $14.43. The 52-week high is $23.92. Volume of about 22 million was about 9 times the daily average of around 2.8 million shares traded. The company reported weak earnings this morning.
Nokia Corp. (NYSE: NOK) dropped about 1.8% on Tuesday to post a new 52-week low of $4.40 after closing at $4.48 on Monday. The stock’s 52-week high is $7.63. Volume was about 30% above the daily average of around 12 million shares. The networking company reported this morning that net sales fell in the third quarter.
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Rite Aid Corp. (NYSE: RAD) dropped about 3.4% on Tuesday to post a new 52-week low of $6.48 after closing at $6.71 on Monday. The stock’s 52-week high is $8.30. Volume of more than 14 million was about 15% below the daily average of around 16 million shares. The drugstore chain had no specific news Tuesday.
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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.
