JC Penney, PG&E Plop into Thursday's 52-Week Low Club
November 15, 2018: Here are four stocks trading with heavy volume among 306 equities making new 52-week lows by mid-afternoon on Thursday. On the NYSE advancers were leading decliners by about 1.21 to 1, and on the Nasdaq, advancers led decliners by about 1.94 to 1.
PG&E Corp. (NYSE: PCG) traded down nearly 32% at $17.44 Thursday after closing at $25.59 on Wednesday. The stock’s 52-week high is $58.38. Volume was more than 15 times the daily average of around 6.1million. Shareholder concerns over the company’s liability for the horrific wildfire raging in northern California are driving them out of the stock.
AGNC Investment Corp. (NASDAQ: AGNC) traded down about 2.9% at $117.27 Thursday. The stock’s 52-week high is $20.84 and volume was about eight times the daily average of around 4.9 million. The company priced a secondary offering of 40 million shares at $17.27 this morning.
J.C. Penney Co. Inc. (NYSE: JCP) dropped nearly 14% Thursday to set a new 52-week low of $1.05. Shares closed at $1.22 on Wednesday and the stock’s 52-week high is $4.75. Volume was about double the daily average of around 15 million. The company posted gloomy results this morning, but shares are on their way to a daily gain of around 12%.
Encana Corp. (NYSE: ECA) traded down about 2% Thursday and posted a new 52-week low of $7.61 after closing Wednesday at $7.77. The stock’s 52-week high is $14.31. Volume was more than double the daily average of around 15.8 million.