General Electric, Rite Aid Plunge into Monday’s 52-Week Low Club
General Electric, JD.com, Rite Aid, and Newell Brands all posted new 52-week lows Monday.
September 24, 2018: Here are four stocks trading with heavy volume among 69 equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by about 2.08 to 1, and on the Nasdaq, decliners led advancers by about 1.57 to 1.
General Electric Co. (NYSE: GE) traded down about 4.7% Monday to set a new 52-week low of $11.60 after closing at $12.17 on Friday. The stock’s 52-week high is $25.21. Volume was around double the daily average of about 57 million. The company had no specific news, but lingering issues with its massive power turbines have spooked investors.
JD.com Inc. (NASDAQ: JD) traded down nearly 8% Monday to post a new 52-week low of $24.38 after closing Friday at $26.49. The stock’s 52-week high is $50.68. Volume was about 60% above the daily average of around 17.4 million shares. The company’s price target was lowered to $41 by an analyst at MKM Partners.
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Rite Aid Corp. (NYSE: RAD) traded down about 1.6% Monday and posted a new 52-week low of $1.23 after closing Friday at $1.25. The stock’s 52-week high is $2.55. Volume was about 60% above the daily average of around 14.4 million. The company had no specific news.
Newell Brands Inc. (NYSE: NWL) dropped about 7.7% Monday to set a new 52-week low of $20.15. Shares closed at $21.84 on Friday and the stock’s 52-week high is $43.99. Volume was about 70% higher than the daily average of around 7.4 million. The company had no specific news.
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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.