February 24, 2017: Here are four stocks trading with relatively heavy volume among 85 equities making new 52-week lows in Friday's session. On the NYSE, advancers and decliners traded evenly and on the Nasdaq decliners led advancers by about 5 to 4.
J.C. Penney Co. Inc. (JCP) dropped 9.9% Friday to post a new 52-week low of $6.18 after closing Thursday at $6.86. The 52-week high is $11.99. Volume of more than 61 million was more than 3 times the daily average of around 20 million. The company's results were barely okay, and closing more stores is simply another sign of continuing weakness.
Nordic American Offshore Ltd. (NAO) dropped nearly 49% Friday, to post a new 52-week low of $1.05 after closing at $2.05 on Thursday. The stock's 52-week high is $5.69. Volume was more than 100 times the daily average of around 90,000 shares. The company priced a secondary offering of 40 million shares at just $1.25 per share this morning.
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Nevsun Resources Ltd. (NSU) dropped about 22% on Friday to record a new 52-week low of $2.29 against a high of $3.80. The stock closed at $2.94 on Thursday. Volume was more than 3 times the daily average of around 930,000 shares. The company had no specific news Friday.
Occidental Petroleum Corp. (OXY) dropped about 1.6% Friday, to post a new 52-week low of $64.19 after closing at $65.25 on Thursday. The stock's 52-week high is $78.48. Volume was about 15% below the daily average of around 4.7 million shares. The company had no specific news.