DryShips, Agile Therapeutics in Wednesday’s 52-Week Low Club
January 4, 2017: Here are three stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by nearly 6 to 1 and on the Nasdaq advancers led decliners…
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January 4, 2017: Here are three stocks trading with relatively heavy volume among 17 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by nearly 6 to 1 and on the Nasdaq advancers led decliners by nearly about the same margin. Total volume reached about 10% higher than the daily average.
Agile Therapeutics Inc. (NASDAQ: AGRX) dropped nearly 64% on Wednesday to post a new 52-week low of $1.82 after closing at $5.00 on Tuesday. Volume was more than 100 times the daily average of just 100,000 shares. The company’s reported positive results for its contraceptive patch, but a high number of patients dropped out of the study and an FDA review is virtually certain.
DryShips Inc. (NASDAQ: DRYS) dropped about 5% on Wednesday to post a new 52-week low of $3.45 against a 52-week high of $278.40 and a Tuesday close of $3.63. Volume of about 7.8 million was less than 10% above the daily average of around 7.3 million. The dry bulk shipper closed a new $200 million revolving credit facility on Tuesday.
Emergent Capital Inc. (NYSE: EMG) dropped about 48% on Wednesday to post a new 52-week low of $0.68 after closing at $1.32 on Tuesday. The stock’s 52-week high is $4.59. Volume was more than 35 times the daily average of around 150,000 shares. The company amended its revolving credit facility on 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.