Gogo, Nevro Stagger into Friday's 52-Week Low Club
July 13, 2018: Here are four stocks trading with heavy volume among 61 equities making new 52-week lows in Friday’s session. On the NYSE decliners led advancers by about 1.04 to 1 and on the Nasdaq, decliners led advancers by about 1.18 to 1.
Gogo Inc. (NASDAQ: GOGO) fell more than 17% Friday to post a new 52-week low of $3.97. Shares closed at $4.82 on Thursday, and the 52-week high is $14.76. Volume totaled nearly six times the daily average of around 1.7 million. The company announced after markets closed Thursday that it was reviewing strategic alternatives and exploring ways to cut costs.
Auris Medical Holding AG (NASDAQ: EARS) dropped about 60% Friday to post a new 52-week low of $0.24. Shares closed at $0.56 on Thursday and the stock’s 52-week high is $3.08. Volume totaled almost 20 times the daily average of around 366,000. The company priced a secondary offering after the bell Thursday night.
Nevro Corp. (NYSE: NVRO) traded down about 19% Friday and posted a new 52-week low of $54.87 after closing Thursday at $68.04. The stock’s 52-week high is $94.34. Volume totaled around 5.7 million, close to 15 times the daily average. The company had no specific news.
Invesco Ltd. (NYSE: IVZ) traded down 2% Friday to post a new 52-week low of $25.52 after closing Thursday at $26.04. The stock’s 52-week high is $38.43. Volume was about 10% below the daily average of about 3.5 million shares. Commerce Secretary Wilber Ross has said he will sell his stake in the company, the parent of W.L. Ross & Co.