Comcast, General Electric Tumble into Thursday’s 52-Week Low Club
General Electric, Comcast, Eldorado Gold, and Deutsche Bank all posted new 52-week lows Thursday.
March 22, 2018: Here are four stocks trading with heavy volume among 106 equities making new 52-week lows in Thursday’s session. On the NYSE decliners led advancers by about 4 to 1 and on the Nasdaq, decliners led advancers by about the same ratio.
General Electric Co. (NYSE: GE) traded down about 2.9% Thursday and posted a new 52-week low of $13.48 after closing Wednesday at $13.88. The stock’s 52-week high is $30.54. Volume was around 47 million, nearly 50% below the daily average. The company had no specific news.
Comcast Corp. (NASDAQ: CMCSA) traded down about 3.2% Thursday and posted a new 52-week low of $33.38 after closing Wednesday at $34.49. The stock’s 52-week high is $44.00. Volume was about 90% higher than the daily average of around 25.4 million shares. A UBS analyst raised his estimate of the company’s subscriber losses to 400,000 for this year and cut his price target from $49 to $47.
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Eldorado Gold Corp. (NYSE: EGO) fell more than 10% Thursday to post a new 52-week low of $0.93 after closing at $1.04 on Wednesday. The 52-week high is $3.78. Volume of around 20 million was about double the daily average. The company posted weak fourth-quarter and full-year 2017 results last night.
Deutsche Bank AG (NYSE: DB) dropped about 4.2% Thursday to post a new 52-week low of $14.17. Shares closed at $14.79 on Wednesday and the stock’s 52-week high is $20.23. Volume was more than double the daily average of around 4.7 million shares. The bank took its punishment as a result of rising interbank (LIBOR) overnight lending rate.
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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.
