Target, Valeant Slide into Friday’s 52-Week Low Club
Target, Valeant, DryShips, and SeaDrill posted new 52-week lows on Friday.
[cnxvideo id=”655420″ placement=”ros”]March 3, 2017: Here are four stocks trading with heavy volume among 71 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq decliners led advancers by about 15 to 14.
DryShips Inc. (NASDAQ: DRYS) dropped nearly 16% Friday to post a new 52-week low of $1.32 after closing Thursday at $1.57. Volume of more than 56 million shares was more than 3 times the daily average of around 17 million. The shipping firm had no specific news.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 6.2% Friday, to post a new 52-week low of $12.90 after closing at $13.75 on Thursday. The stock’s 52-week high is $70.43. Volume was about double the daily average of around 15.9 million shares. The company completed the sale of some skincare brands to L’Oréal.
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SeaDrill Ltd. (NYSE: SDRL) dropped about 27.5% on Friday to record a new 52-week low of $1.21 against a high of $7.49. The stock closed at $1.67 on Thursday. Volume was more than double the daily average of around 14 million shares. The company had no specific news Friday.
Target Corp. (NYSE: TGT) dropped about 1.5% Friday, to post a new 52-week low of $57.09 after closing at $57.95 on Thursday. The stock’s 52-week high is $84.14. Volume was less than 10% above the daily average of around 6.6 million shares. The big box retailer took some lumps from analysts after its poor earnings report earlier this week.
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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.
