April 7, 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, decliners led advancers by about 8 to 7 and on the Nasdaq advancers and decliners traded evenly, 1,400 to 1,409.
DryShips Inc. (NASDAQ: DRYS) dropped about 30% Friday to post a new 52-week low of $0.72 after closing at $1.03 on Thursday. Volume was about 15% above the daily average of around 31 million. The company said late Thursday that it will execute a 1-for-4 reverse stock split effective April 11. This marks the fifth reverse split in the firm’s stock in 13 months.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped about 2% Friday to post a new 52-week low of $9.44 after closing Thursday at $9.63. The stock’s 52-week high is $38.50. Volume of nearly 15 million shares was about 25% below the daily average of around 19.5 million. The stock is on track to post a gain of around 0.5% for the day following an offer from Fresenius SE to acquire Akorn. Barron’s suggests that investors must believe there’s a buyer for anything, so why not Valeant?
Top Ships Inc. (NASDAQ: TOPS) posted a new 52-week low of $0.51 on Friday, down more than 21% compared with Thursday’s closing price of $0.65. The stock’s 52-week high is $8.40. Volume was nearly double the daily average of around 2.3 million shares. The company had no specific news.
Palatin Technologies Inc. (NYSEMKT: PTN) dropped about 6.5% Friday to post a new 52-week low of $0.29 after closing at $0.31 on Thursday. The stock’s 52-week high is $0.90. Volume was nearly double the daily average of around 2.2 million shares. The company had no specific news.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
