January 24, 2017: Here are four stocks trading with relatively heavy volume among 48 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 11 to 4 and on the Nasdaq advancers led decliners by about 5 to 2.
DryShips Inc. (NASDAQ: DRYS) dropped about 18% on Tuesday to post a new split-adjusted 52-week low of $4.42 against a 52-week high of $278.40 and a Monday close of $5.40. Volume of around 18.3 million was about 30% above the daily average of around 13 million. Shares began trading Monday morning after a 1-for-8 reverse stock split that valued the new shares at about $8.00.
Gilead Sciences Inc. (NASDAQ: GILD) dropped about 1.3% Tuesday, to post a new 52-week low of $69.78 after closing at $70.69 on Monday. The stock’s 52-week high is $103.10. Volume was about 10% below the daily average of around 9.8 million shares. The company had no specific news Tuesday.
BT Group plc (NYSE: BT) dropped about 21.7% Tuesday to post a new 52-week low of $19.14 after closing Monday at $24.43. The 52-week high is $36.04. Volume of around 7.4 million was nearly 15 times the daily average of around 560,000 shares traded. The company expects a larger loss related to a scandal with its accounting in Italy.
Cascadian Therapeutics Inc. (NASDAQ: CASC) dropped about 4.4% on Tuesday to post a new 52-week low of $3.49 after closing at $3.65 on Monday. Volume was about 8 times the daily average of around 440,000. The company announced both secondary and preferred stock offering to raise $82.5 million.