Rite Aid, JC Penney Tumble into Monday's 52-Week Low Club
October 2, 2017: Here are four stocks trading with heavy volume among 40 equities making new 52-week lows in Monday’s session. On the NYSE, advancers led decliners by nearly 3 to 1 and on the Nasdaq advancers led decliners by about 2 to 1.
Rite Aid Corp. (NYSE: RAD) dropped about 3% Monday to establish a new 52-week low of $1.90 after closing at $1.96 on Friday. The 52-week high is $8.77. Volume of around 42 million shares traded was about 40% above the daily average. The company reported weak sales Thursday morning and continues to get battered.
J.C. Penney Co. Inc. (NYSE: JCP) posted a new 52-week low of $3.45 on Monday, down about 9.4% from Friday’s closing price of $3.81. The stock’s 52-week high is $10.74. Volume totaled around 31 million shares, about double the daily average. The company had no specific news, but a report on Nordstrom’s difficulty pulling together financing for a transaction that would take the company private has hit other struggling retail stocks hard.
The Kroger Co. (NYSE: KR) dropped about 1.8% Monday to post a new 52-week low of $19.69 after closing at $20.06 on Friday. The 52-week high is $36.44. Volume was around 12.6 million, about 10% below the daily average. The company had no specific news.
Vipshop Holdings Ltd. (NYSE: VIPS) also dropped about 1.8% Monday to post a new 52-week low of $8.63 after closing at $8.79 on Friday. The stock’s 52-week high is $16.24. Volume of around 6.4 million was less than 15% below the daily average. The company had no specific news.