Tesla, GameStop Claim Spots in Thursday's 52-Week Low Club
March 29, 2018: Here are four stocks trading with heavy volume among 122 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by more than 4 to 1 and on the Nasdaq, advancers led decliners by less than 3 to 1.
GameStop Corp. (NYSE: GME) fell by nearly 14% Thursday to post a new 52-week low of $12.20 after closing at $14.15 on Wednesday. The 52-week high is $25.31. Volume of about 31 million was around six times the daily average. The company disappointed investors last night with soft earnings and a weak outlook.
Acxiom Corp. (NASDAQ: ACXM) traded down more than 33% Thursday and posted a new 52-week low of $18.60 after closing Wednesday at $28.05. The stock’s 52-week high is $32.93. Volume was about 25 times the daily average of around 600,000 shares. The company is being hammered after social media giant Facebook said it would change its relationship with data brokers.
Tesla Inc. (NASDAQ: TSLA) traded down about 3.7% Thursday and posted a new 52-week low of $248.24 after closing Wednesday at $257.78 The stock’s 52-week high is $389.61. Volume totaled around 14 million, more than double the daily average. The stock reversed course and is on track to post a gain of more than 2% for the day. The automaker is not out of the woods yet, but it still has plenty of options to turn things around.
Edge Therapeutics Inc. (NASDAQ: EDGE) dropped 14.5% Thursday to post a new 52-week low of $1.12. Shares closed at $1.31 on Wednesday and the stock’s 52-week high is $17.77. Volume was nearly 20 times the daily average of around 700,000 shares. The company on Wednesday ended a trial after reporting poor results and shares fell more than 90% on the news.