Synergy Pharma, Newell Drop into Monday’s 52-Week Low Club
Synergy Pharmaceuticals, Newell Brands, American Outdoor Products, and RAIT Financial all posted new 52-week lows on Monday.
September 11, 2017: Here are four stocks trading with heavy volume among 37 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by nearly 4 to 1 and on the Nasdaq advancers led decliners by about 2.5 to 1.
Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) dropped about 5.7% Monday to post a new 52-week low of $2.63 after closing at $2.79 on Friday. The 52-week high is $7.15. Volume was around 8 million, approaching double the daily average. The company had no specific news.
Newell Brands Inc. (NYSE: NWL) posted a new 52-week low of $42.95 on Monday, down about 2.5% from Friday’s closing price of $44.04. The stock’s 52-week high is $55.08. Volume totaled around 5.8 million shares, about 40% above the daily average. The company warned on earnings last week and paid the price Monday with a downgrade from Jefferies.
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American Outdoor Brands Corp. (NASDAQ: AOBC) dropped about 4.6% Monday to post a new 52-week low of $13.28 after closing Friday at $13.92. The 52-week high is $28.57. Volume of around 3.8 million shares traded was about 3 times the daily average. The maker of Smith & Wesson firearms reported poor earnings last week and even a record number of August requests to the FBI for background checks didn’t move gunmakers’ stocks Monday.
RAIT Financial Trust (NYSE: RAS) dropped about 5.5% Monday to post a new 52-week low of $0.52 after closing at $0.55 on Friday. The stock’s 52-week high is $3.91. Volume of around 3.5 million was more than 3 times the daily average. The company said last week it was exploring strategic alternatives, but had no news Monday. Shares have recovered and traded up nearly 5% shortly before closing.
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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.
