JC Penney, General Electric Topple Into Thursday’s 52-Week Low Club
General Electric, Rite Aid, J.C. Penney, and Teva all posted new 52-week lows with high volume on Thursday.
October 12, 2017: Here are four stocks trading with heavy volume among 61 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by less than 8 to 7 and on the Nasdaq decliners led advancers by about 5 to 4.
General Electric Co. (NYSE: GE) dropped about 1% Thursday to post a new 52-week low of $22.83 after closing at $23.07 on Wednesday. The 52-week high is $32.38. Volume was around 72 million, about 75% above the daily average of about 41.6 million. The company had no specific news, but there is more chatter about a dividend cut.
Rite Aid Corp. (NYSE: RAD) dropped about 8.4% Thursday to post a new 52-week low of $1.63 after closing at $1.75 on Wednesday. The stock’s 52-week high is $8.77. Volume of around 68 million was more than double the daily average. The company had no specific news.
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J.C. Penney Co. Inc. (NYSE: JCP) posted a new 52-week low of $3.31 on Thursday, down about 4.9% from Wednesday’s closing price of $3.48. The stock’s 52-week high is $10.74. Volume totaled around 29 million shares, nearly double the daily average. The company had no specific news, but a poor earnings report from J.Jill hit retail stocks hard today.
Teva Pharmaceutical Industries Inc. (NYSE: TEVA) dropped about 4.6% Thursday to post a new 52-week low of $15.03 after closing at $44.64 on Wednesday. The 52-week high is $44.64. Volume was around 26 million, about 10% above the daily average. The company had no specific news.
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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.