PG&E, AxoGen Tumble into Tuesday’s 52-Week Low Club

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January 8, 2019: Here are four stocks trading with heavy volume among just 18 equities trading at new 52-week lows Tuesday. On the NYSE, advancers led decliners by about 3.1 to 1 and advancers led decliners on the Nasdaq by about 1.97 to 1.

The three major indexes are all on track to post gains of about 1% in Tuesday’s trading session. Crude oil traded up about 2.6% on the day to settle at $49.78 a barrel. Gold settled down about 0.3% at $1,285.90 for the day.

PG&E Corp. (NYSE: PCG) traded down about 16.7% Tuesday and posted a new 52-week low of $15.78 after closing Monday at $18.95. The stock’s 52-week high is $49.42. Volume was about more than double the daily average of around 12 million. The company is reported to be considering bankruptcy protection and S&P today cut the utilities’ bond rating to junk levels.

Maxar Technologies Ltd. (NYSE: MAXR) traded down about 37% to post a new 52-week low of $5.04 Tuesday after closing at $8.03 on Monday. The stock’s 52-week high is $64.00 and volume was about 14 times the daily average of around 700,000. The company said yesterday that one of its satellites has failed and cannot be recovered.

La Jolla Pharmaceutical Co. (NASDAQ: LJPC) dropped about 4.4% Tuesday to set a new 52-week low of $5.01. Shares closed at $5.24 on Monday and the stock’s 52-week high is $41.36. Volume was nearly 14 times the daily average of around 550,000. The company warned Monday morning that revenue would drop to about half of previous analyst projections.

AxoGen Inc. (NASDAQ: AXGN) traded down about 8.3% to post a new 52-week low of $15.01 Tuesday after closing at $16.37 on Monday. The stock’s 52-week high is $56.85. Volume was more than three times the daily average of around 700,000. The company announced preliminary quarterly results Monday morning that apparently didn’t live up to expectations.

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