General Electric, CVS Health Slip into Friday's 52-Week Low Club
March 23, 2018: Here are four stocks trading with heavy volume among 193 equities making new 52-week lows in Friday’s session. On the NYSE decliners led advancers by nearly 4 to 1 and on the Nasdaq, decliners led advancers by about the same ratio.
General Electric Co. (NYSE: GE) traded down about 1.9% Friday and posted a new 52-week low of $13.10 after closing Thursday at $13.35. The stock’s 52-week high is $30.54. Volume reached more than 61 million, about 30% below the daily average. The company had no specific news.
Forest City Realty Trust Inc. (NYSE: FCE-A) traded down about 9.5% Friday and posted a new 52-week low of $19.24 after closing Thursday at $27.27. The stock’s 52-week high is $26.30. Volume was about 10 times the daily average of around 1.5 million shares. The company responded to activist investor pressure by shaking up its board of directors rather than selling the company.
Office Depot Inc. (NASDAQ: ODP) fell by more than 5.5% Friday to post a new 52-week low of $2.03 after closing at $2.15 on Thursday. The 52-week high is $6.26. Volume of around 7.3 million was about 20% above the daily average. An activist investor wants the company is pressuring the company to spend $536 million on share buybacks over the next three years.
CVS Health Corp. (NYSE: CVS) dropped about 1.3% Friday to post a new 52-week low of $61.00. Shares closed at $61.79 on Thursday and the stock’s 52-week high is $84.00. Volume was about 40% lower than the daily average of around 8.6 million shares. The company had no specific news Friday.