Walgreens, Navient Flop into Friday's 52-Week Low Club
October 6, 2017: Here are four stocks trading with heavy volume among 26 equities making new 52-week lows in Friday’s session. On the NYSE, decliners led advancers by about 2 to 1 and on the Nasdaq decliners led advancers by about 4 to 3.
Walgreens Boots Alliance Inc. (NASDAQ: WBA) dropped about 5% Friday to post a new 52-week low of $73.05 after closing at $76.95 on Thursday. The 52-week high is $89.69. Volume was around 7.6 million, about 40% above the daily average. The company took a downgrade from Overweight to Equal-Weight from Morgan Stanley this morning.
Vipshop Holdings Ltd. (NYSE: VIPS) dropped about 2.8% Friday to post a new 52-week low of $8.29 after closing at $8.53 on Thursday. The stock’s 52-week high is $16.01. Volume of around 4.9 million was about 40% below the daily average. The company had no specific news.
Navient Corp. (NASDAQ: NAVI) dropped about 0.7% Friday to establish a new 52-week low of $12.51 after closing at $12.60 on Thursday. The 52-week high is $17.95. Volume of around 4 million shares traded was about 60% below the daily average. The state of Pennsylvania filed suit against the student loan servicing firm on Thursday.
NeoPhotonics Corp. (NYSE: NPTN) posted a new 52-week low of $4.72 on Friday, down about 5% from Thursday’s closing price of $4.97. The stock’s 52-week high is $16.61. Volume totaled around 2 million shares, 60% higher than the daily average. The company announced some restructuring actions Thursday morning and the backlash continues.