VEON, Vascular Biogenics Sink into Thursday’s 52-Week Low Club
VEON, Vascular Biogenics, PPL Corp., and Outfront Media all posted new 52-week lows Thursday.
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March 8, 2018: Here are four stocks trading with heavy volume among 50 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by roughly 8 to 7 and on the Nasdaq, advancers led decliners by about the same ratio.
VEON Ltd. (NASDAQ: VEON) fell about 3.7% Thursday to post a new 52-week low of $2.61 after closing at $2.71 on Wednesday. The 52-week high is $4.47. Volume of nearly 12.5 million was about three times the daily average. The stock turned the corner mid-morning is on track to close up about 1.1%.
Vascular Biogenics Ltd. (NASDAQ: VLBT)) dropped about 66% Thursday to post a new 52-week low of $2.30. Shares closed at $6.80 on Wednesday and the stock’s 52-week high is $9.05. Volume was about 35 times the daily average of around 220,000. The company’s cancer treatment failed to meet its primary endpoint in a phase 3 trial.
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PPL Corp. (NYSE: PPL) traded down about 0.3% Thursday and posted a new 52-week low of $27.13 after closing Wednesday at $27.21. The stock’s 52-week high is $40.20. Volume was about 10% lower than the daily average of around 7 million shares. The company had no specific news and shares have charted a course to finish up nearly 2% for the day.
Outfront Media Inc. (NYSE: OUT) traded down about 1.9% Thursday and posted a new 52-week low of $18.98 after closing Wednesday at $19.35. The stock’s 52-week high is $26.97. Volume was around 3.4 million, nearly four times the daily average of around less than 1 million. 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.
