Pandora, General Electric Lodged in Monday's 52-Week Low Club
January 22, 2018: Here are four stocks trading with heavy volume among 34 equities making new 52-week lows in Monday’s session. On the NYSE advancers led decliners by about 3 to 2 and on the Nasdaq, advancers led decliners by about 4 to 3.
General Electric Co. (NYSE: GE) traded down about 2.8% Monday and posted a new 52-week low of $15.80 after closing Friday at $16.26. The 52-week high is $30.59. Volume was over 107 million, about 15% above the daily average of 89 million shares. The company had no specific news, but Q4 results are due Wednesday and investors fear a further cut to the company’s 2018 outlook.
Pandora Media Inc. (NYSE: P) dropped about 6.4% Monday to post a new 52-week low of $4.09 after closing at $4.37 on Friday. The stock’s 52-week high is $13.72. Volume was about 12 million, about 10% above the daily average of around 11 million. The music streaming company had no specific news.
The Southern Company (NYSE: SO) dropped about 0.7% Monday to post a 52-week low of $44.12 after closing at $44.44 on Friday. The 52-week high is $53.51. Volume was around 5 million, about 20% less than the daily average. The company had no specific news.
Sanmina Corp. (NASDAQ: SANM) tumbled nearly 24% Monday to post a new 52-week low of $26.65 after closing at $34.95 on Friday. The 52-week high is $42.95. Volume of about 4.3 million was roughly six times the daily average of around 750,000 shares traded. The company cut its fourth-quarter outlook after markets closed Friday.