January 31, 2017: Here are four stocks trading with relatively heavy volume among 67 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by more than 3 to 2.
Under Armour Inc. (NYSE: UAA) dropped about 27.7% on Tuesday to post a new 52-week low of $20.93 against a 52-week high of $47.95 and a Monday close of $28.94. Volume of around 48 million was more than 10 times the daily average of around 4.5 million. The company reported a weak quarter, offered a weak outlook, and the CFO stepped down. A true triple whammy.
Rite Aid Corp. (NYSE: RAD) dropped about 2% Tuesday, to post a new 52-week low of $5.60 after closing at $5.72 on Monday. The stock’s 52-week high is $8.77. Volume was about 30% above the daily average of around 22.5 million shares. The company continues to reel from the announced cut in the merger deal with Walgreens.
Tenax Therapeutics Inc. (NASDAQ: TENX) dropped about 78% Tuesday to post a new 52-week low of $0.41 after closing Monday at $1.95. The 52-week high is $2.94. Volume of nearly 13 million was about 30 times the daily average of around 420,000 shares traded. The company reported Tuesday that top-line results did not meet endpoints in a Phase 3 trial of LEVO-CTS.
Infosys Ltd. (NYSE: INFY) dropped about 1.7% on Tuesday to record a new 52-week low of $13.58. The stock closed at $13.81 on Monday. Volume was about 15% above the daily average of around 6.3 million shares. The company had no specific news.