HP Enterprise, GNC Drop into Wednesday’s 52-Week Low Club
HP Enterprise, GNC, Patriot National, and SeaWorld all posted new 52-week lows on Wednesday.
November 22, 2017: Here are four stocks trading with heavy volume among 42 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by about 4 to 3 and on the Nasdaq, advancers led decliners by about 8 to 7.
Hewlett Packard Enterprise Co. (NYSE: HPE) dropped about 9.3% Wednesday to post a new 52-week low of $12.81 after closing at $14.12 on Tuesday. The 52-week high is $15.12. Volume was around 37 million, nearly three times the daily average of about 13 million. The company reported good earnings, but CEO Meg Whitman is leaving in February. https://247wallst.com/technology-3/2017/11/22/hpe-earnings-not-enough-to-offset-ceo-shuffle/
GNC Holdings Inc. (NYSE: GNC) dropped about 10% Wednesday to post a new 52-week low of $5.18 after closing at $5.76 on Tuesday. The 52-week high is $15.50. Volume was around 7.2 million, about three times the daily average of around 2.5 million. The nutrition supplement company had no specific news.
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Patriot National Inc. (NYSE: PN) posted a new 52-week low of $0.29 Wednesday, down nearly 73% after closing at $1.06 on Tuesday. The 52-week high is $7.00. Volume was about 3 million, more than 20 times the daily average of around 150,000. The insurance services company laid off about a third of its employees after it lost about 60% of its business when its largest customer went into receivership.
SeaWorld Entertainment Inc. (NYSE: SEAS) dropped about 1.9% Wednesday to post a new 52-week low of $10.59 after closing at $10.80 on Tuesday. The stock’s 52-week high is $20.13. Volume of around 2.1 million was about 20% below 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.