Chesapeake Energy, Citigroup Plop into Thursday's 52-Week Low Club
December 13, 2018: Here are four stocks trading with heavy volume among 503 equities making new 52-week lows Thursday. On the NYSE, decliners led advancers by about 1.74 to 1 and decliners led advancers on the Nasdaq by about 2.51 to 1.
The three major indexes are on track close the day mixed with the Dow posting a small gain. Crude oil traded up about 2.8% on the day to settle at $52.58 a barrel. Gold settled down 0.2% at $1,247.40.
XPO Logistics Inc. (NYSE: XPO) traded down about 32% at a new low of $41.05 Thursday after closing at $60.27 on Wednesday. The stock’s 52-week high is $116.27. Volume was more than 30 times the daily average of around 1.2 million. The transportation and logistics firm cut its profit forecast yesterday and a well-known short seller piled on Thursday.
Chesapeake Energy Corp. (NYSE: CHK) dropped about 2.3% Thursday to set a new 52-week low of $2.51. Shares closed at $2.57 on Wednesday and the stock’s 52-week high is $5.60. Volume was about 30% lower than the daily average of around 31.8 million. The oilfield services company had no specific news. Natural gas prices softened following today’s storage report.
Citigroup Inc. (NYSE: C) traded down about 0.9% Thursday and posted a new 52-week low of $55.47 after closing Wednesday at $55.98. The stock’s 52-week high is $80.70. Volume was about 10% higher than the daily average of around 18 million. The company has agreed to sell 32 branches in Wisconsin. The bank had no specific news.
Rite Aid Corp. (NYSE: RAD) traded down about 10% to post a new 52-week low of $0.88 Thursday after closing at $0.98 on Wednesday. The stock’s 52-week high is $2.55 and volume was nearly 50% higher than the daily average of around 11.3 million. The struggling drug store chain had no specific news.