General Electric, Synergy Pharma Stuck Again in Tuesday’s 52-Week Low Club
General Electric, Synergy Pharma, CenturyLink, and Opko Health all posted new 52-week lows Tuesday.
November 14, 2017: Here are four stocks trading with heavy volume among 170 equities making new 52-week lows in Tuesday’s session. On the NYSE decliners led advancers by about 3 to 2 and on the Nasdaq, decliners and advancers by less than 4 to 3.
General Electric Co. (NYSE: GE) dropped about 8.2% Tuesday to post a new 52-week low of $17.46 after closing at $19.02 on Monday. The 52-week high is $32.38. Volume was a massive 270 million, more than four times the daily average of around 61.6 million. The industrial giant continues to pay for Monday’s dividend cut and a new strategy that has few believers.
Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) dropped more than 17% Tuesday to post a new 52-week low of $2.02 after closing at $2.44 on Monday. The 52-week high is $7.15. Volume was around 21 million, nearlyt four times the daily average of around 5.7 million. The company priced a secondary offering of 21.7 million shares and an identical number of warrants at $2.58 per unit Monday morning.
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CenturyLink Ink. (NYSE: CTL) dropped about 6.7% Tuesday to post a new 52-week low of $14.31 after closing at $15.33 on Monday. The stock’s 52-week high is $27.61. Volume of around 17 million was about 25% above the daily average. The telecom company had no specific news.
Opko Health Inc. (NASDAQ: OPK) dropped about 13.5% Tuesday to post a new 52-week low of $4.55 after closing at $5.26 on Monday. The 52-week high is $12.15. Volume was around 17 million, almost 4 times the daily average of about 4.6 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.
