Chesapeake Energy, Teva Slump into Monday’s 52-Week Low Club
Chesapeake Energy, Teva, Vipshop, and Denbury Resources all posted new 52-week lows Monday.
August 28, 2017: Here are four stocks trading with heavy volume among 99 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 decliners led advancers by about 5 to 4.
Chesapeake Energy Corp. (NYSE: CHK) posted a new 52-week low of $3.59 on Monday, down about 5.3% from Friday’s closing price of $3.79. The stock’s 52-week high is $8.20. Volume totaled around 36 million shares, about 1 million more than the daily average. The company acknowledged that its oil & gas production would be constrained as long as Harvey continues to keep refineries and terminals closed.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) dropped about 3% Monday to post a new 52-week low of $15.72 after closing at $16.21 on Friday. The stock’s 52-week high is $52.66. Volume of around 14 million was about 1 million below the daily average. The company had no specific news.
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Vipshop Holdings Ltd. (NYSE: VIPS) dropped about 3.1% Monday to post a new 52-week low of $8.72 after closing Friday at $9.00. The 52-week high is $16.24. Volume of around 7.4 million shares traded was about equal to the daily average. The company had no specific news.
Denbury Resources Inc. (NYSE: DNR) dropped about 10.7% Monday to register a new 52-week low of $0.91 after closing at $1.03 on Friday. The 52-week high is $4.29. Volume was around 7.3million, about 1 million more than the daily average. The company also announced operational issues related to tropical storm Harvey.
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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.