General Electric, Ascena Retail Group Tumble into Thursday's 52-Week Low Club
May 18, 2017: Here are four stocks trading with relatively heavy volume among 183 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 9 to 7 and on the Nasdaq advancers led decliners by nearly 8 to 5.
General Electric Co. (NYSE: GE) posted a new 52-week low of $27.10 on Thursday, down about 1.1% compared with Wednesday’s closing price of $27.41. The stock’s 52-week high is $33.00. Volume totaled about 39 million shares, about 30% above the daily average of about 30 million. The company had no specific news.
Ascena Retail Group Inc. (NASDAQ: ASNA) dropped more than 41% Thursday to post a new 52-week low of $1.65 after closing at $2.82 on Wednesday. The stock’s 52-week high is $9.12. Volume of more than 28 million was about 8 times the daily average of around 3.5 million shares traded. The owner of, among others, the Ann Taylor retail chain, issued a profit warning this morning.
Rite Aid Corp. (NYSE: RAD) dropped about 9.5% Thursday to post a new 52-week low of $3.32 after closing at $3.67 on Wednesday. The stock’s 52-week high is $8.77. Volume was about 60% higher than the daily average of around 18.8 million shares. The company had no specific news Thursday.
Endologix Inc. (NASDAQ: ELGX) dropped more than 37% Thursday to post a new 52-week low of $4.20 after closing Wednesday at $6.73. The 52-week high is $14.50. Volume of more than 12 million shares was more than 9 times the daily average of around 1.3 million. The company met with the FDA and revealed that its new aneurysm sealing system will not be available as soon as once believed.