Avon, Rite Aid Slide into Friday’s 52-Week Low Club
September 29, 2017 by Paul AusickSeptember 29, 2017: Here are four stocks trading with heavy volume among 41 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by about the same ratio.
Rite Aid Corp. (NYSE: RAD) dropped by 4.9% Friday to establish a new 52-week low of $1.93 after closing at $2.03 on Thursday. The 52-week high is $8.77. Volume of around 46 million shares traded was about 50% above the daily average. The company reported weak sales Thursday morning.
Avon Products Inc. (NYSE: AVP) posted a new 52-week low of $2.29 on Friday, down about 4.4% from Thursday’s closing price of $2.39. The stock’s 52-week high is $6.96. Volume totaled around 6.3 million shares, about 40% above the daily average. The company had no specific news.
Windstream Holdings Group Inc. (NASDAQ: WIN) dropped about 4.9% Friday to post a new 52-week low of $1.73 after closing at $1.82 on Thursday. The 52-week high is $10.40. Volume was around 5.8 million, about 30% higher than the daily average. The company had no specific news.
Ritter Pharmaceuticals Inc. (NASDAQ: RTTR) dropped about 32% Friday to post a new 52-week low of $0.34 after closing at $0.50 on Thursday. The stock’s 52-week high is $3.75. Volume of around 4.8 million was about 16 times the daily average. The company priced a secondary offering this morning that raised $23 million on the sale of 34.55 million Class A units at an unspecified price and 9,180 Class B units with a value of $1,000 per unit and convertible into a total of 22.95 million shares of common stock and warrants exercisable for a similar number of shares. The exercise price of the warrants is $0.44.
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