February 26, 2018: Here are four stocks trading with heavy volume among 38 equities making new 52-week lows in Monday’s session. On the NYSE advancers led decliners by about 2 to 1 and on the Nasdaq, advancers led decliners by the same ratio.
General Electric Co. (NYSE: GE) traded down about 3.7% Monday and posted a new 52-week low of $13.95 after closing Friday at $14.49. The stock’s 52-week high is $30.54. Volume was about 50% above the daily average of 86 million shares. The industrial giant will restate the last two years of earnings and is shaking up its board of directors. The share price recovered by about noon and the stock is on its way to a gain of less than 1% for the day.
MiMedx Group Inc. (NASDAQ: MDXG) dropped nearly 23% Monday to post a new 52-week low of $6.05. Shares closed at $7.83 on Friday and the stock’s 52-week high is $18.25. Volume was over 22 million, about 10 times the daily average. The company postponed is quarterly report last week in order to conduct an accounting review and Bloomberg reported today that a U.S. Justice Department investigation is underway.
Dean Foods Co. (NYSE: DF) fell about 18% Monday to post a new 52-week low of $8.32 after closing at $10.13 on Friday. The 52-week high is $20.10. Volume of more than 12 million was more than seven times the daily average. The company reported poor results and issued a weak outlook.
ARCA biopharma Inc. (NASDAQ: ABIO) traded down nearly 80% Monday and posted a new 52-week low of $0.45 after closing Friday at $1.60. The stock’s 52-week high is $2.76. Volume was around 9 million, nearly 40 times the daily average of around 230,000. The company reported a poor result on a phase 2 trial of treatment for a certain kind of heart problem.