JC Penney, JD.com Fall into Thursday’s 52-Week Low Club
JC Penney, JD.com, Coty, and Pain Therapeutics all posted new 52-week lows Thursday.
August 16, 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 about 2.93 to 1, and on the Nasdaq, advancers led decliners by about 2.39 to 1.
J.C. Penney Co. Inc. (NYSE: JCP) traded down about 27% Thursday to set a new 52-week low of $1.75. Shares closed at $2.41 on Wednesday, and the 52-week high is $4.75. Volume was more than four times the daily average of around 16.4 million. The company cut guidance this morning.
JD.com Inc. (NASDAQ: JD) traded down about 3.6% Thursday and posted a new 52-week low of $31.19 after closing Wednesday at $32.36. The stock’s 52-week high is $50.68. Volume was nearly three times the daily average of around 14.4 million. The company reported disappointing second-quarter results this morning.
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Coty Inc. (NYSE: COTY) traded down about 6.1% Thursday to post a new 52-week low of $10.73 after closing Wednesday at $11.43. The stock’s 52-week high is $21.68. Volume was approaching double the daily average of about 5.7 million shares. The company had no specific news.
Pain Therapeutics Inc. (NASDAQ: PTIE) dropped 50% Thursday to set a new 52-week low of $0.98. Shares closed at $1.96 on Wednesday and the stock’s 52-week high is $12.80. Volume totaled around 10 million, nearly 20 times the daily average. The company announced a direct share offering of $11.3 million at $1.15 per share. Boy, do current investors hate that sort of behavior.
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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.