General Electric, LendingClub Fall into Monday’s 52-Week Low Club
General Electric, Synergy Pharmaceuticals, LendingClub, and Newell Brands all posted new 52-week lows on Monday.
November 13, 2017: Here are four stocks trading with heavy volume among 146 equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by around 8 to 7 and on the Nasdaq, decliners and advancers closed roughly even.
General Electric Co. (NYSE: GE) dropped about 8.5% Monday to post a new 52-week low of $18.75 after closing at $20.49 on Friday. The 52-week high is $32.38. Volume was a whopping 213 million, nearly four times the daily average of around 58.5 million. The industrial giant cut its dividend in half this morning and followed up with the CEO’s new strategy to sell assets and focus on a few segments where the company performs well. Investors were not amused.
Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) dropped more than 10% Monday to post a new 52-week low of $2.44 after closing at $2.72 on Friday. The 52-week high is $7.15. Volume was around 21 million, about four times the daily average of around 5.5 million. The company priced a secondary offering of 21.7 million shares and an identical number of warrants at $2.58 per unit this morning.
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LendingClub Corp. (NYSE: LC) dropped about 3.3% Monday to post a new 52-week low of $4.16 after closing at $4.30 on Friday. The stock’s 52-week high is $6.78. Volume of around 10 million was about 45% above the daily average. The company had no specific news.
Newell Brands Inc. (NYSE: NWL) dropped about 4% Monday to post a new 52-week low of $28.11 after closing at $29.30 on Friday. The 52-week high is $46.17. Volume was around 10.5 million, about 40% higher than the daily average of about 6.3 million. 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.