DryShips, C.H. Robinson Slide into Thursday’s 52-Week Low Club
DryShips, C.H. Robinson, Regulus Therapeutics and Genuine Parts all posted new 52-week lows on Thursday.
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July 20, 2017: Here are four stocks trading with heavy volume among 40 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by about 15 to 13.
DryShips Inc. (NASDAQ: DRYS) posted a new 52-week low of $0.46 on Thursday, down 8% compared with Wednesday’s closing price of $.50. Volume totaled around 9 million shares, about 3 times the daily average. The company announced a 1-for-7 reverse stock split late Wednesday that takes effect Friday morning. This is the company’s eighth reverse split since March of 2016.
C.H. Robinson Worldwide Inc. (NASDAQ: CHRW) dropped about 7.7% Thursday to post a new 52-week low of $63.41 after closing Wednesday at $68.69. The 52-week high is $81.16. Volume was around 7.5 million shares traded, about 5 times the daily average of around 1.5 million. The trucking company missed on earnings last night.
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Regulus Therapeutics Inc. (NASDAQ: RGLS) dropped just over 1% Thursday to post a new 52-week low of $0.86 after closing at $0.96 on Wednesday. The 52-week high is $4.25. Volume was about 2.9 million, more than three times the daily average of 760,000 shares. The company announced on Wednesday a secondary stock offering of 44 million shares at a price of $0.91 per share.
Genuine Parts Co. (NYSE: GPC) dropped about 2.5% Thursday to post a new 52-week low of $80.86 after closing at $82.96 on Wednesday. The stock’s 52-week high is $105.18. Volume of about 1.9 million was about double the daily average of around 970,000. The auto parts company missed estimates for first fiscal quarter profits.
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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.