Investing
Macy's, DryShips Tumble into Friday's 52-Week Low Club
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January 13, 2017: Here are four stocks trading with relatively heavy volume among 22 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by more than 3 to 2 and on the Nasdaq advancers led decliners by more than 2 to 1.
DryShips Inc. (NASDAQ: DRYS) dropped about 8.2% on Friday to post a new 52-week low of $1.69 against a 52-week high of $278.40 and a Thursday close of $1.84. Volume of nearly 38 million was more than 4 times the daily average of around 8.8 million. Investors continue to run away from the company’s decision to diversify into the LPG shipping.
Macy’s Inc. (NYSE: M) dropped about 1.1% on Friday to post a new 52-week low of $29.66 after closing at $29.98 on Thursday. Volume was about a third lower than the daily average of about 6.7 million. The department store giant had no specific news.
Himax Technologies Inc. (NASDAQ: HIMX) dropped about 2.9% Friday, matching the new 52-week low of $5.70 set Thursday after closing at $5.87 on Thursday. The stock’s 52-week high is $10.95. The company had no specific news.
V.F. Corp. (NYSE: VFC) dropped about 1.4% Friday to post a new 52-week low of $51.08 after closing Thursday at $51.83. The 52-week high is $67.10. Volume of around 2.4 million was about 20% below the daily average of around 3.1 million shares traded. The company was downgraded from Buy to Hold at Canaccord Genuity on Thursday and the price target was cut from $64 to $54.
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