General Electric, Rite Aid Tumble into Monday’s 52-Week Low Club
General Electric, Rite Aid, Walgreens, and Viacom all posted new 52-week lows on Monday.
October 9, 2017: Here are four stocks trading with heavy volume among 53 equities making new 52-week lows in Monday’s session. On the NYSE, decliners led advancers by about 4 to 3 and on the Nasdaq decliners led advancers by about 3 to 2.
General Electric Co. (NYSE: GE) dropped about 4.1% Monday to post a new 52-week low of $23.38 after closing at $24.39 on Friday. The 52-week high is $32.38. Volume was around 174 million, nearly 5 times above the daily average of about 39 million. The company replaced a board member this morning, following up on several top executives’ retirements announced Friday.
Rite Aid Corp. (NYSE: RAD) dropped about 4.1% Monday to post a new 52-week low of $1.88 after closing at $1.96 on Friday. The stock’s 52-week high is $8.77. Volume of around 58 million was more than double the daily average. The company had no specific news.
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Walgreens Boots Alliance Inc. (NASDAQ: WBA) dropped about 4.1% Monday to post a new 52-week low of $70.21 after closing at $73.20 on Friday. The 52-week high is $89.69. Volume was around 9.8 million, about 80% above the daily average. The company took a downgrade from Overweight to Equal-Weight from Morgan Stanley Friday morning and the fallout is still coming.
Viacom Inc. (NASDAQ: VIAB) posted a new 52-week low of $25.37 on Monday, down about 6.6% from Friday’s closing price of $27.15. The stock’s 52-week high is $46.72. Volume totaled around 7.4 million shares, about 30% higher than the daily average. The company had no specific new Monday.
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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.
