Pandora, Rite Aid Tumble into Friday’s 52-Week Low Club
Pandora, CBL Properties, Rite Aid, and AK Steel all posted new 52-week lows Friday.
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November 3, 2017: Here are four stocks trading with heavy volume among 143 equities making new 52-week lows in Friday’s session. On the NYSE, decliners led advancers by about 8 to 7 and on the Nasdaq advancers decliners traded equally.
Pandora Media Inc. (NYSE: P) dropped more than 27% Friday to post a new 52-week low of $5.35 after closing at $14.02 on Thursday. The stock’s 52-week high is $14.10. Volume of around 66 million was nearly 12 times the daily average. The streaming music company posted a smaller-than-expected loss but missed revenues when it reported Thursday night.
CBL Properties (NYSE: CBL) dropped about 27% Friday to post a new 52-week low of $5.83 after closing at $7.99 on Thursday. The 52-week high is $12.35. Volume was around 30 million, about 10 times the daily average of about 3.2 million. The REIT reported poor quarterly results last night.
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Rite Aid Corp. (NYSE: RAD) posted a new 52-week low of $1.53 on Friday, down about 8.9% from Thursday’s closing price of $1.68. The stock’s 52-week high is $8.77. Volume totaled around 23 million shares, about 10% below the daily average. The company had no specific news.
AK Steel Holding Corp. (NYSE: AKS) dropped about 6.9% Friday to post a new 52-week low of $4.05 after closing at $4.35 on Thursday. The 52-week high is $11.39. Volume was around 21 million, about 40% higher the daily average of around 16 million. The company had no specific news Friday.
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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.