DryShips, Alcobra Sink into Tuesday's 52-Week Low Club
January 17, 2017: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 4 to 3 and on the Nasdaq decliners led advancers by more than 2 to 1.
DryShips Inc. (NASDAQ: DRYS) dropped about 15.5% on Tuesday to post a new 52-week low of $1.58 against a 52-week high of $278.40 and a Friday close of $1.87. Volume of nearly 27 million was nearly 3 times the daily average of around 9.9 million. No news again, just a continuing slide in the share price.
Alcobra Ltd. (NASDAQ: ADHD) dropped about 56% on Tuesday to post a new 52-week low of $0.83 after closing at $1.90 on Friday. Volume was about 12 times the daily average of about 400,000. The company’s ADHD drug failed a late-stage trial.
Merrimack Pharmaceuticals Inc. (NASDAQ: MACK) dropped about 4.4% Tuesday, to post a new 52-week low of $3.07 after closing at $3.21 on Friday. The stock’s 52-week high is $9.02. The company had no specific news.
Perrigo Company plc (NYSE: PRGO) dropped about 3.3% Tuesday to post a new 52-week low of $75.25 after closing Friday at $77.80. The 52-week high is $152.36. Volume of around 1.3 million was about 30% below the daily average of around 1.8 million shares traded. The company had no specific news.