Kroger, Versartis Locked in Monday’s 52-Week Low Club
Kroger, Versartis Pharmaceuticals, Mattel, and Newell Brands all posted new 52-week lows on Monday.
September 25, 2017: Here are four stocks trading with heavy volume among 39 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by less than 4 to 3 and on the Nasdaq decliners led advancers by about the same ratio.
The Kroger Co. (NYSE: KR) dropped about 1.3% Monday to post a new 52-week low of $19.89 after closing at $20.15 on Friday. The stock’s 52-week high is $36.44. Volume of around 12 million was less than 10% below the daily average. The company had no specific news.
Versartis Inc. (NASDAQ: VSAR) posted a new 52-week low of $2.35 on Monday, down about 12% from Friday’s closing price of $2.67. The stock’s 52-week high is $24.00. Volume totaled around 11 million shares, about 11 times the daily average. The company said Friday morning that a phase III drug trial failed to meet its primary endpoint.
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Mattel Inc. (NASDAQ: MAT) dropped about 1.2% Monday to post a new 52-week low of $14.35 after closing at $14.52 on Friday. The 52-week high is $33.23. Volume was around 8.2 million, about 20% above the daily average. The company said Friday that it had amended some of its debt covenants.
Newell Brands Inc. (NYSE: NWL) dropped about 1.2% Monday to post a new 52-week low of $40.89 after closing Friday at $41.39. The 52-week high is $55.08. Volume of around 3.6 million shares traded was about equal to the daily average. 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.