Sprint, Southern Company Slip into Tuesday’s 52-Week Low Club
Sprint, Southern Company, Pandora, and Obalon Therapeutics all posted new 52-week lows Tuesday.
January 23, 2018: Here are four stocks trading with heavy volume among 31 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by more than 3 to 2 and on the Nasdaq, advancers led decliners by about 4 to 3.
Sprint Corp. (NYSE: S) traded down about 4.1% Tuesday and posted a new 52-week low of $5.10 after closing Monday at $5.32. The 52-week high is $9.65. Volume was over 20 million, about 10% above the daily average of 18 million shares. The company had no specific news.
The Southern Company (NYSE: SO) dropped about 2% Tuesday to post a 52-week low of $43.16 after closing at $44.04 on Monday. The 52-week high is $53.51. Volume was around 7.3 million, about 35% higher than the daily average. The company had no specific news.
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Pandora Media Inc. (NYSE: P) dropped nearly 1% Tuesday to match a 52-week low of $4.09 after closing at $4.13 on Monday. The stock’s 52-week high is $13.72. Volume was about 6.5 million, about 40% below the daily average of around 11.3 million. The music streaming company had no specific news.
Obalon Therapeutics Inc. (NASDAQ: OBLN) tumbled about 28% Tuesday to post a new 52-week low of $3.72 after closing at $5.19 on Monday. The 52-week high is $13.18. Volume of about 4.3 million was roughly 40 times the daily average of around 110,000 shares traded. The company terminated an announced secondary offering following allegations of improper accounting practices.
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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.
