Mattel, Valeant Stagger into Friday’s 52-Week Low Club
Mattel, Valeant, MannKind, and DryShips all posted new 52-week lows on Friday.
[cnxvideo id=”655407″ placement=”ros”]April 21, 2017: Here are four stocks trading with relatively heavy volume among 58 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 decliners led advancers by nearly 4 to 3.
Mattel Inc. (NASDAQ: MAT) posted a new 52-week low of $22.00 on Friday, down about 12.7% compared with Thursday’s closing price of $25.21. The stock’s 52-week high is $34.24. Volume of about 30 million shares was nearly 6 times the daily average of around 5.4 million shares. The company reported a steep sales decline this morning.
Valeant Pharmaceuticals International Inc. (NYSE: VRX) dropped nearly 5.9% Friday to post a new 52-week low of $8.36 after closing Thursday at $8.88. The stock’s 52-week high is $38.50. Volume of around 21 million shares was about 15% above the daily average of around 18.6 million. The company set a monthly price of $3,500 for its soon-to-be-released psoriasis drug.
[nativounit]
DryShips Inc. (NASDAQ: DRYS) dropped about 8% Friday to post a new low of $1.55 after closing at $1.69 Thursday night. The low is based on a recent 1-for-4 reverse split. Volume was about 65% below the daily average of nearly 33.5 million shares. The company had no specific news.
MannKind Corp. (NASDAQ: MNKD) dropped about 17.8% Friday to post a new 52-week low of $0.88 after closing at $1.07 on Thursday. The new low is based on a 1-for-5 reverse stock split that became effective March 1. The stock’s post-split high is $2.38 The company had no specific news.
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
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.