Kroger, General Electric Plunge into Friday’s 52-Week Low Club
Kroger, General Electric, Whiting Petroleum and Hewlett Packard Enterprise all posted new 52-week lows on Friday.
September 8, 2017: Here are four stocks trading with heavy volume among 103 equities making new 52-week lows in Friday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq decliners and advancers traded nearly evenly.
The Kroger Co. (NYSE: KR) dropped about 10.4% Friday to post a new 52-week low of $20.41 after closing at $22.77 on Thursday. The 52-week high is $36.44. Volume was around 56 million, more than double the daily average. The company reported weak earnings this morning.
General Electric Co. (NYSE: GE) posted a new 52-week low of $23.58 on Friday, down about 1.8% from Thursday’s closing price of $24.02. The stock’s 52-week high is $32.38. Volume totaled around 36 million shares, about 10% below the daily average. The company had no specific news Friday.
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Whiting Petroleum Corp. (NYSE: WLL) dropped about 7.2% Friday to post a new 52-week low of $3.97 after closing Thursday at $4.28. The 52-week high is $13.39. Volume of around 22 million shares traded was just above the daily average. The company announced a reverse stock split in a whole-number ratio of between 1-for-2 and 1-for-6 on Thursday and investors are not finished administering punishment yet.
Hewlett Packard Enterprise Co. (NYSE: HPE) dropped about 1.2% Friday to post a new 52-week low of $13.06 after closing at $13.25 on Thursday. The stock’s 52-week high is $19.16. Volume of around 16 million was about 20% above the daily average. The company had no specific news Friday.
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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.
