Celgene, NetEase Drop into Thursday's 52-Week Low Club
May 17, 2018: Here are four stocks trading with heavy volume among 57 equities making new 52-week lows in Thursday’s session. On the NYSE advancers led decliners by about 1.12 to 1 and on the Nasdaq, advancers led decliners by about 1.5 to 1.
Celgene Corp. (NASDAQ: CELG) dropped about 2.7% Thursday to post a new 52-week low of $79.16. Shares closed at $81.36 on Wednesday and the stock’s 52-week high is $147.17. Volume of around 7.4 million shares was about 5% above the daily average. The company was one of several named in an FDA report of drugmakers who may be illegally blocking access to delay cheaper generic copies.
NetEase Inc. (NASDAQ: NTES) fell by about 9.7% Thursday to post a new 52-week low of $240.08 after closing at $266.00 on Wednesday. The 52-week high is $377.64. Volume of about 4.4 million was more than 4 times the daily average of about 1 million. The reported a profit that missed expectations last night.
PPL Corp. (NYSE: PPL) traded down about 1.3% Thursday to post a new 52-week low of $26.65 after closing Wednesday at $27.01. The stock’s 52-week high is $40.20 Volume was about 35% below the daily average of around 7 million shares. The company had no specific news.
Vodafone Group plc (NASDAQ: VOD) traded down about 0.2% Thursday and posted a new 52-week low of $26.54 after closing Wednesday at $26.60. The stock’s 52-week high is $32.75. Volume totaled around 4 million, about 30% higher than the daily average of around 3.1 million. The company announced Wednesday morning that long-time CEO Vittorio Colao is retiring and will be replaced by Nick Read.