Teva, Chesapeake Energy Sink into Monday’s 52-Week Low Club
August 7, 2017 by Paul AusickAugust 7, 2017: Here are four stocks trading with heavy volume among 118 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq advancers and decliners traded about evenly.
Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) dropped about 9.3% Monday to register a new 52-week low of $18.68 after closing at $20.60 on Friday. The 52-week high is $55.39. Volume was over 70 million, about 7 times the daily average. The company reported a second-quarter loss last Thursday and slashed its outlook as competition is cutting into revenue. The shares have lost $11 in just two days.
Chesapeake Energy Corp. (NYSE: CHK) posted a new 52-week low of $4.32 on Monday, down about 4.6% from Friday’s closing price of $4.53. The stock’s 52-week high is $8.20. Volume totaled more than 31 million shares, about 10% below the daily average of around 35 million. The energy producer had no specific news Monday.
Mylan NV (NYSE: MYL) dropped about 4.3% Monday to post a new 52-week low of $31.49 after closing Friday at $32.92. The 52-week high is $50.40. Volume of about 16 million shares traded was more than 3 times the daily average of around 5.2 million. The company received price target cuts this morning from Morgan Stanley and RBC Capital Markets.
24/7 Wall St.Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) dropped nearly 61% Monday to post a new 52-week low of $5.93after closing at $15.06 on Friday. The stock’s 52-week high is $25.95. Volume of about 8 million was nearly 20 times the daily average. The company’s cannabis-based epilepsy drug failed a mid-stage study.
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