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General Electric, PPL Corp. Stagger into Wednesday's 52-Week Low Club
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December 20, 2017: Here are four stocks trading with heavy volume among 58 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by less than 8 to 7 and on the Nasdaq, advancers led decliners by about the same margin.
General Electric Co. (NYSE: GE) dropped about 1.3% Wednesday to post a new 52-week low of $17.36 after closing at $17.59 on Tuesday. The 52-week high is $32.24. Volume was around 62 million, about 15% below the daily average of around 1.5 million. The industrial giant had no specific news.
PPL Corp. (NYSE: PPL) posted a 52-week low of $31.53 after closing Tuesday at $32.42. The 52-week high is $40.20. Volume was about 15.5 million, more than three times the daily average of around 4 million shares. The electric utility company took a downgrade on Tuesday and the fallout continues to drop.
Top Ships Inc. (NASDAQ: TOPS) posted a new 52-week low of $0.24 Wednesday after closing at $0.27 on Tuesday. Volume of about 7.3 million was about 40% below the daily average. The company had no specific news.
Nordic American Tankers Ltd. (NYSE: NAT) dropped about 2.4% Wednesday to post a new 52-week low of $2.49 after closing at $2.55 on Tuesday. Volume was around 2.8 million, about double the daily average of around 1.4 million. The firm sent shareholders a letter Tuesday morning explaining the shipper’s recapitalization program. The explanation did not sell any better today.
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