Cenovus, Rite Aid Slide into Friday’s 52-Week Low Club
Rite Aid, Cenovus Energy, Depomed, and Diana Containerships posted new 52-week lows Friday.
[cnxvideo id=”507732″ placement=”ros”]March 31, 2017: Here are four stocks trading with relatively heavy volume among 28 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by more than 3 to 2 and on the Nasdaq advancers led decliners by about 4 to 3.
Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $4.22 on Friday, down about 4.5% compared with Thursday’s closing price of $4.42. The stock’s 52-week high is $8.77. Volume was about 15% above the daily average of around 25.6 million shares. Walgreens has reportedly set a deadline for a Federal Trade Commission decision on the merger with Rite Aid.
Cenovus Energy Inc. (NYSE: CVE) dropped about 1.6% Friday to post a new 52-week low of $11.11 after closing Thursday at $11.29. The stock’s 52-week high is $16.82. Volume of about 10 million shares was more than 3 times the daily average of around 2.7 million. The company announced Wednesday that it is buying oil sands assets from ConocoPhillips for $13.3 billion and investors are still jittery.
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Depomed Inc. (NASDAQ: DEPO) dropped about 2% Friday, to post a new 52-week low of $12.56 after closing at $12.82 on Thursday. The stock’s 52-week high is $27.02. Volume was about 50% above the daily average of around 1.6 million. The company had no specific news.
Diana Containerships Inc. (NASDAQ: DCIX) dropped about 8% Friday to post a new 52-week low of $1.25 after closing at $1.36 on Thursday. The stock’s 52-week high is $26.17. Volume was roughly 25% higher than the daily average of around 2.9 million shares. The company had no specific news Friday.
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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.
