Dryships, Agile Therapeutics in Thursday’s 52-Week Low Club
DryShips, Merrimack Pharmaceuticals, Express Inc., and Aeterna Zentaris posted new 52-week lows on Thursday.
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[cnxvideo id=”510431″ placement=”ros”]January 5, 2017: Here are four stocks trading with relatively heavy volume among 20 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 9 to 7 and on the Nasdaq decliners led advancers by about 3 to 2.
DryShips Inc. (NASDAQ: DRYS) dropped about 14.6% on Thursday to post a new 52-week low of $2.98 against a 52-week high of $278.40 and a Wednesday close of $3.49. Volume of about 17 million was more than double the daily average of around 7.8 million. The dry bulk shipper announced this morning that it plans to buy up to 4 very-large gas carriers at a cost of $83.5 million each.
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped 9% on Thursday to post a new 52-week low of $3.72 after closing at $4.09 on Wednesday. Volume was more than double the daily average of about 3 million shares. The company had no specific news Thursday.
Express Inc. (NYSE: EXPR) dropped about 6.8% Thursday to post a new 52-week low of $10.07 after closing Wednesday at $10.80. The 52-week high is $21.57. Volume of around 2.7 million was about 15% more than the daily average of around 2.3 million shares traded. The company had no specific news.
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Aeterna Zentaris Inc. (NASDAQ: AEZS) dropped about 36% on Thursday to post a new 52-week low of $2.35 after closing at $3.65 on Wednesday. The stock’s 52-week high is $5.59. Volume was about 5 times the daily average of around 430,000 shares. The company said late Wednesday that a clinical trial had failed.
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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.
