Bed, Bath & Beyond, Marathon Oil in Friday’s 52-Week Low Club
Bed, Bath & Beyond, SeaDrill, Marathon Oil, and DryShips all posted new 52-week lows on Friday.
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June 23, 2017: Here are four stocks trading with heavy volume among 74 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 2 to 1 and on the Nasdaq, advancers led decliners by about 9 to 5.
Bed, Bath & Beyond Inc. (NASDAQ: BBBY) posted a new 52-week low of $29.41 on Friday, down about 12.8% compared with Thursday’s closing price of $33.74. The stock’s 52-week high is $48.83. Volume totaled more than 18 million shares, more than 7 times the daily average of around 2.7 million. The company posted disappointing results after markets closed Thursday.https://247wallst.com/retail/2017/06/23/bed-bath-beyond-sinks-on-q1-earnings/
SeaDrill Ltd. (NYSE: SDRL) dropped nearly 11% Friday to post a new 52-week low of $0.41 after closing at $0.46 on Thursday. The stock’s 52-week high is $4.59. Volume of nearly about 9.4 million was less than 10% above the daily average. The company had no specific news.
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Marathon Oil Corp. (NYSE: MRO) dropped about 1.6% Friday to post a new 52-week low of $11.41 after closing Thursday at $11.59. The 52-week high is $19.28. Volume was about 30% lower than the daily average of about 13.7 million shares. The company had no specific news.
DryShips Inc. (NASDAQ: DRYS) dropped nearly 14% Friday to post a 52-week low of $2.44 after closing at a split-adjusted $2.83 on Thursday. Volume was around 6.3 million, about 80% higher than the daily average of around 3.5 split-adjusted million shares. The company’s seventh reverse stock split since March 2016 — this one a 1-for-5 split — became effective Thursday morning.
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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.