Pandora, DryShips Sink into Monday’s 52-Week Low Club
Pandora Media, DryShips, Yamana Gold, and Rice Midstream all posted new 52-week lows Monday.
June 16, 2017: Here are four stocks trading with heavy volume among 80 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by more than 3 to 2 and on the Nasdaq, advancers led decliners by about 2 to 1.
Pandora Media Inc. (NYSE: P) dropped about 3.8% Monday to post a new 52-week low of $6.76 after closing at $7.03 on Friday. The stock’s 52-week high is $14.98. Volume of nearly 15 million was about 15% below the daily average. The company had no specific news.
DryShips Inc. (NASDAQ: DRYS) dropped nearly 33% Monday to post a new 52-week low of $1.18 after closing at $1.75 on Friday. Volume topped 12 million, about 50% higher than the daily average of around 8.6 million shares. The company will conduct a 1-for-5 reverse stock split on Thursday, it’s seventh reverse split since March 2016.
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Yamana Gold Inc. (NYSE: AUY) dropped nearly 5% Monday to post a new 52-week low of $2.33 after closing Friday at $2.45. The 52-week high is $5.99. Volume was less than 10% higher than the daily average of about 13 million shares. The gold mining company had no specific news.
Rice Midstream Partners LP (NYSE: RMP) posted a new 52-week low of $16.87 on Monday, down about 31% compared with Friday’s closing price of $24.36. Volume totaled around 8.3 million shares, nearly 25 times the daily average of around 840,000. The company and its sponsor, Rice Energy, were acquired by EQT Corp.
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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.
