Investing
Symantec, Helios and Matheson Sink into Friday's 52-Week Low Club
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May 11, 2018: Here are four stocks trading with heavy volume among 67 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 1.12 to 1 and on the Nasdaq, advancers led decliners by about 1.13 to 1.
Symantec Corp. (NASDAQ: SYMC) dropped more than 35% Friday to post a new 52-week low of $18.85. Shares closed at $29.18 on Thursday and the stock’s 52-week high is $34.20. Volume of around 102 million shares was about 20 times the daily average. The company revealed this morning that it is the subject of an internal audit related to compliance with federal securities law. This sort of thing is never good news.
Helios and Matheson Analytics, Inc. (NASDAQ: HMNY) fell by about 9.8% Friday to post a new 52-week low of $0.55 after closing at $0.66 on Thursday. The 52-week high is $38.86. Volume of about 28 million was more more than three times the daily average of about 7.8 million. The company said in a Monday SEC filing that it needs to raise more cash to prop up its MoviePass business. Investors are not buying the week-long dip here..
Ultra Petroleum Co. (NASDAQ: UPL) traded down nearly 14% Friday to post a new 52-week low of $1.73 after closing Thursday at $2.01. The stock’s 52-week high is $12.39. Volume was about 75% above the daily average of around 4.1 million shares. The company reported results Wednesday night that continue to move investors to the exits.
Viveve Medical Inc. (NASDAQ: VIVE) traded down about 45% Friday and posted a new 52-week low of $1.60 after closing Thursday at $2.89. The stock’s 52-week high is $8.75. Volume totaled around 5.7 million, about 20 times the daily average of around 290,000. The medical device company reported disappointing earnings after markets closed Thursday.
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