GGP, CenturyLink Drop into Tuesday’s 52-Week Low Club
GGP, CenturyLink, Spirit Capital, and AVEO Pharma all posted new 52-week lows on Tuesday.
[cnxvideo id=”655416″ placement=”ros”]March 28, 2017: Here are four stocks trading with relatively heavy volume among 44 equities making new 52-week lows in Tuesday’s session. On the NYSE, advancers led decliners by nearly 3 to 1 and on the Nasdaq advancers led decliners by about 9 to 5.
GGP Inc. (NYSE: GGP) dropped about 1.7% Tuesday, to post a new 52-week low of $22.34 after closing at $22.72 on Monday. The stock’s 52-week high is $32.10. Volume was about 30% below the daily average of around 11 million. The company had no specific news, and shares are on track to close the day’s trading up about 0.1% after a mid-morning dip to the new low.
CenturyLink Inc. (NYSE: CTL) dropped about 1.3% Tuesday to post a new 52-week low of $22.33 after closing Monday at $22.61. The stock’s 52-week high is $33.45. Volume of about 5.7 million shares was about 25% below the daily average of around 7.9 million. The company had no specific news.
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Spirit Realty Capital Inc. (NYSE: SRC) posted a new 52-week low of $9.93 on Tuesday, down about 1.3% compared with Monday’s closing price of $10.06. Volume was about equal to the daily average of around 5 million shares. The company had no specific news.
AVEO Pharmaceuticals Inc. (NASDAQ: AVEO) dropped about 23% Tuesday, to post a new 52-week low of $0.50 after closing at $0.65 on Monday. The stock’s 52-week high is $1.15. Volume was about 13 times the daily average of around 325,000 shares. The company priced a secondary offer of 30 million shares at $0.50 a share.
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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.
