Akamai, DryShips Sink into Wednesday's 52-Week Low Club
July 26, 2017: Here are four stocks trading with heavy volume among 38 equities making new 52-week lows in Wednesday’s session. On the NYSE, advancers led decliners by about 50 issues and on the Nasdaq, decliners led advancers by about 15 to 14.
DryShips Inc. (NASDAQ: DRYS) dropped nearly 25% Wednesday to register a new poste-reverse-split low of $1.06 after closing at $1.41 on Tuesday. Volume was about 13 million, more than 6 times the daily average of around 2.1 million shares. The shipping company had no specific news.
Akamai Technologies Inc. (NASDAQ: AKAM) dropped about 15% Wednesday to post a new 52-week low of $45.45 after closing at $53.28 on Tuesday. The stock’s 52-week high is $71.64. Volume of about 13 million was roughly 5 times the daily average. The company reported decent results, but soft guidance for the current quarter sank the stock in Wednesday’s session.
The Interpublic Group of Companies Inc. (NYSE: IPG) dropped about 4% Wednesday to post a new 52-week low of $21.28 after closing Tuesday at $22.16. The 52-week high is $25.71. Volume reached nearly 10 million shares traded, more than double the daily average of around 3.8 million. Tuesday’s weak earnings report continued to weigh on the share price.
Bed, Bath & Beyond Inc. (NASDAQ: BBBY) posted a new 52-week low of $27.99 on Wednesday, down about 1.1% from Tuesday’s closing price of $28.31. Volume totaled around 5.8 million shares, more than 50% higher than the daily average of around 3.6 million. The company had no news Wednesday, and the stock turned a corner, headed for a closing gain of around 2.7% for the day.