Coca-Cola, LendingClub Skid into Wednesday’s 52-Week Low Club
LendingClub, Coca-Cola, Acadia Pharmaceuticals, and Bristol-Myers Squibb all posted new 52-week lows Wednesday.
April 25, 2018: Here are four stocks trading with heavy volume among 136 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 3 to 2 and on the Nasdaq, decliners led advancers by about 4 to 3.
LendingClub Corp. (NYSE: LC) dropped more than 17% Wednesday to post a new 52-week low of $2.69. Shares closed at $3.26 on Tuesday and the stock’s 52-week high is $6.56. Volume was more than double the daily average of around 6.6 million shares. The Federal Trade Commission has sued the company for deceiving customers with hidden fees.
The Coca-Cola Co. (NYSE: KO) traded down about 2.7% Wednesday and posted a new 52-week low of $41.95 after closing Tuesday at $43.07. The stock’s 52-week high is $48.62. Volume totaled around 15.2 million, about 20% above the daily average. The company had no specific news.
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Acadia Pharmaceuticals Inc. (NASDAQ: ACAD) traded down about 20% Wednesday to post a new 52-week low of $14.51 after closing Tuesday at $19.47. The stock’s 52-week high is $41.20. Volume was more than six times the daily average of around 2.5 million shares. The Food and Drug Administration is re-examining the company’s only approved drug.
Bristol-Myers Squibb Co. (NYSE: BMY) fell by about 2% Wednesday to post a new 52-week low of $50.56 after closing at $51.58 on Tuesday. The 52-week high is $70.05. Volume of about 10.1 million was about 15% above daily average of about 9 million. The company is sceduled to report earnings before markets open Thursday..
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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.
