Tesla, Kinder Morgan Slide into Wednesday's 52-Week Low Club
March 28, 2018: Here are four stocks trading with heavy volume among 178 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by about 100 issues and on the Nasdaq, decliners led advancers by about 4 to 3.
Edge Therapeutics Inc. (NASDAQ: EDGE) dropped 92.6% Wednesday to post a new 52-week low of $1.15. Shares closed at $15.59 on Tuesday and the stock’s 52-week high is $17.77. Volume was nearly 300 times the daily average of around 160,000 shares. The company ended a trial after reporting poor results.
Tesla Inc. (NASDAQ: TSLA) traded down about 9.7% Wednesday and posted a new 52-week low of $252.10 after closing Tuesday at $279.18. The stock’s 52-week high is $389.61.00. Volume totaled around 19 million, about three times the daily average. One of the company’s cars suffered a fatal crash and Moody’s downgraded the firm’s debt.
Kinder Morgan Inc. (NYSE: KMI) traded down about 2.2% Wednesday and posted a new 52-week low of $14.76 after closing Tuesday at $15.09. The stock’s 52-week high is $21.92. Volume was about equal to the daily average of around 17 million shares. The company had no specific news.
General Mills Inc. (NYSE: GIS) fell by almost 3% Wednesday to post a new 52-week low of $43.97 after closing at $45.31 on Tuesday. The 52-week high is $60.69. Volume of about 17 million was more than triple the daily average. The company priced a secondary stock offering of 22.73 million shares at $44.00 last night.