Bristol-Myers, Mattel Plunge into Thursday’s 52-Week Low Club
Bristol-Myers, Mattel, DryShips, and FuelCell Energy posted new 52-week lows Thursday.
[cnxvideo id=”625493″ placement=”ros”]January 26, 2017: Here are four stocks trading with relatively heavy volume among 31 equities making new 52-week lows in Thursday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq decliners led advancers by about 8 to 5.
Bristol-Myers Squibb Co. (NYSE: BMY) dropped about 7.1% Thursday, to post a new 52-week low of $46.01 after closing at $49.55 on Wednesday. The stock’s 52-week high is $77.12. Volume was more than 3 times the daily average of around 11.6 million shares. The company missed profit estimates this morning and cut its outlook following a difficult quarter for its cancer treatment.
Mattel Inc. (NASDAQ: MAT) dropped more than 18% Thursday to post a new 52-week low of $25.83 after closing Wednesday at $31.56. The 52-week high is $34.76. Volume of around 30.2 million was more than 7 times the daily average of around 4 million shares traded. The toy maker’s fourth-quarter report was quite disappointing.
DryShips Inc. (NASDAQ: DRYS) dropped 19.5% on Thursday to post a new split-adjusted 52-week low of $3.22 against a 52-week high of $278.40 and a Wednesday close of $4.00. Volume of around 12 million was nearly 6 times the daily average of around 2.3 million. The company had no specific news Wednesday, but a 1-for-8 reverse stock split that became effective Monday has absolutely killed shares.
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FuelCell Energy Inc. (NASDAQ: FCEL) traded flat on Thursday to match the new 52-week low of $1.50 set on Wednesday. The stock closed at $1.55 on Wednesday. Volume was about 3 times the daily average of around 650,000. The company had no specific news Thursday.
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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.
