JC Penney, General Electric Tumble Into Friday’s 52-Week Low Club
J.C. Penney, Chesapeake Energy, Teva Pharmaceuticals, and General Electric all posted new 52-week lows Friday.
August 11, 2017: Here are four stocks trading with heavy volume among 257 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by nearly around 15 to 14.
J.C. Penney Co. Inc. (NYSE: JCP) dropped about 20% Friday to post a new 52-week low of $3.77 after closing Thursday at $4.71. The 52-week high is $11.30. Volume of about more than 104 million shares traded was nearly 6 times the daily average of around 18 million. The company’s second-quarter earnings report was simply awful as far as investors were concerned and it could be that the venerable retailer is running out of time to right the ship. https://247wallst.com/retail/2017/08/11/jc-penney-market-cap-now-less-than-10-of-revenue/
Chesapeake Energy Corp. (NYSE: CHK) dropped about 2.2% Friday to post a new 52-week low of $4.05 after closing at $4.14 on Thursday. The stock’s 52-week high is $8.20. Volume of about 27 million was around 30% below the daily average of about 35 million. The company had no specific news.
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Teva Pharmaceuticals Industries Inc. (NYSE: TEVA) also dropped about 2.2% Friday to register a new 52-week low of $16.81 after closing at $17.19 on Thursday. The 52-week high is $55.39. Volume was around 21 million, about 60% above the daily average. The company had no specific news.
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General Electric Co. (NYSE: GE) posted a new 52-week low of $25.20 on Friday, down about 0.4% from Thursday’s closing price of $25.30. The stock’s 52-week high is $32.38. Volume totaled around 15 million shares, about 65% below the daily average of around 40 million. The company had no specific news.
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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.