JC Penney, Finish Line Drop Into Friday’s 52-Week Low Club
J.C. Penney, Finish Line, Sportsman's Warehouse, and Frontier Communications all posted new 52-week lows on Friday.
[cnxvideo id=”508884″ placement=”ros”]March 24, 2017: Here are four stocks trading with relatively heavy volume among 60 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 4 to 3 and on the Nasdaq advancers led decliners by about the same margin.
Frontier Communications Corp. (NASDAQ: FTR) dropped about 1% Friday, to post a new 52-week low of $1.92 after closing at $1.94 on Thursday. The stock’s 52-week high is $5.75. Volume was nearly double the daily average of around 36 million. The company had no specific news, and it appears that shares will close above $2.00 after rising more than 6% on the day.
The Finish Line Inc. (NASDAQ: FINL) posted a new 52-week low of $12.63 on Friday, down about 21% compared with Thursday’s closing price of $16.06. Volume was nearly 10 times the daily average of around 1.2 million shares. The company posted weak results this morning.
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J.C. Penney Co. Inc. (NYSE: JCP) dropped about 1% Friday to post a new 52-week low of $5.45 after closing Thursday at $5.50. The stock’s 52-week high is $11.50. Volume of about 7 million shares was about a third of the daily average of around 21 million. The company had no specific news.
Sportsman’s Warehouse Holdings Inc. (NASDAQ: SPWH) dropped about 18% Friday, to post a new 52-week low of $4.14 after closing at $5.03 on Thursday. The stock’s 52-week high is $12.80. Volume was about 8 times the daily average of around 3.5 million shares. The company posted an earnings miss after markets closed 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.