Rite Aid, Verizon Dip into Friday's 52-Week Low Club
June 30, 2017: Here are four stocks trading with heavy volume among 52 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 4 to 3.
Rite Aid Corp. (NYSE: RAD) dropped about 9.3% Friday to post a new 52-week low of $2.61 after closing Thursday at $2.89. The 52-week high is $8.77. Volume was around 75 million shares traded, more than double the daily volume of about 28 million. The company’s merger with Walgreens collapsed on Thursday and investors aren’t through dumping the stock.
Vipshop Holdings Ltd. (NYSE: VIPS) dropped about 8.9% Friday to post a new 52-week low of $10.50 after closing at $11.53 on Thursday. The stock’s 52-week high is $17.41. Volume of about 12.6 million was more than double the daily average of 5 million. The company’s stock was downgraded from Buy to Hold this morning by Deutsche Bank.
Verizon Communications Inc. (NYSE: VZ) posted a new 52-week low of $44.36 on Friday, down about 0.1% compared with Thursday’s closing price of $44.41. The stock’s 52-week high is $56.95. Volume totaled around 15 million shares, roughly equal to the daily average. The company had no specific news, but the shares did turn around and are on track to close with a gain for the day.
Viacom Inc. (NASDAQ: VIAB) dropped about 3% Friday to post a new 52-week low of $33.30 after closing at $34.35 on Thursday. Volume was about 6.6 million, around 20% higher than the daily average of around 5 million shares. The company had no specific news.