Valeant, DryShips Don’t Escape Thursday’s 52-Week Low Club
April 6, 2017 by Paul AusickApril 6, 2017: Here are four stocks trading with relatively heavy volume among 102 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by nearly 3 to 1 and on the Nasdaq advancers led decliners by about 2 to 1.
DryShips Inc. (NASDAQ: DRYS) dropped about 11.7% Thursday to post a new 52-week low of $0.91 after closing at $1.03 on Wednesday. Volume was about 15% above the daily average of around 30 million. The company said Monday that it has agreed to sell up to $226.4 million of its common stock to Kalani Investments Ltd. over a period of 24 months. The shipping firm also agreed to acquire six more ships at a total price of $268 million. Investors continue to flee.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 0.1% Thursday to post a new 52-week low of $9.49 after closing Wednesday at $9.50. The stock’s 52-week high is $38.50. Volume of about 15 million shares was about 25% below the daily average of around 19 million. The company had no specific news.
Novavax Inc. (NASDAQ: NVAX) dropped about 29% Thursday to post a new 52-week low of $0.73 after closing at $1.03 on Wednesday. The stock’s 52-week high is $8.49. Volume was more than four times the daily average of around 6 million shares. The company had no specific news.
Top Ships Inc. (NASDAQ: TOPS) posted a new 52-week low of $0.70 on Thursday, down about 19% compared with Wednesday’s closing price of $0.86. The stock’s 52-week high is $8.40. Volume was about double the daily average of around 2.2 million shares. The company had no specific news.
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