Rite Aid, DexCom Plunge into Thursday’s 52-Week Low Club
Rite Aid, DexCom, Uniti Group, and SCANA all posted new 52-week lows on Thursday.
September 28, 2017: Here are four stocks trading with heavy volume among 41 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by more than 4 to 3 and on the Nasdaq advancers led decliners by about the same ratio.
Rite Aid Corp. (NYSE: RAD) dropped by 11.8% Thursday to establish a new 52-week low of $2.01 after closing at $2.28 on Wednesday. The 52-week high is $8.77. Volume of around 59 million shares traded was approaching double the daily average. The company reported weak sales this morning.
DexCom Inc. (NASDAQ: DXCM) posted a new 52-week low of $42.62 on Thursday, down about 37% from Wednesday’s closing price of $67.47. The stock’s 52-week high is $89.98. Volume totaled around 27 million shares, more than 25 times the daily average. The company’s stock tumbled following FDA approval of a blood-sugar monitoring system made by rival Abbott.
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Uniti Group Inc. (NASDAQ: UNIT) dropped about 2.3% Thursday to post a new 52-week low of $13.81 after closing at $14.13 on Wednesday. The 52-week high is $32.06. Volume was around 7.2 million, nearly 3 times the daily average. The company had no specific news.
SCANA Corp. (NYSE: SCG) dropped about 3.6% Thursday to post a new 52-week low of $49.37 after closing at $51.22 on Wednesday. The stock’s 52-week high is $74.99. Volume of around 3.6 million was nearly triple the daily average. The company was hit with a lawsuit late Wednesday accusing executives of misleading investors about progress on two new nuclear power generation plants it was building.
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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.
