March 30, 2017: Here are four stocks trading with relatively heavy volume among 32 equities making new 52-week lows in Thursday's session. On the NYSE, advancers led decliners by about 3 to 2 and on the Nasdaq advancers led decliners by the same margin.
Lululemon Athletica Inc. (LULU) dropped nearly 24% Thursday, to post a new 52-week low of $50.50 after closing at $66.30 on Wednesday. The stock's 52-week high is $81.81. Volume was nearly 40 times the daily average of around 1.6 million. The yoga pants maker disappointed investors when it reported quarterly results last night.
Cenovus Energy Inc. (CVE) dropped about 13.6% Thursday to post a new 52-week low of $11.30 after closing Wednesday at $13.08. The stock's 52-week high is $16.82. Volume of nearly 40 million shares was about 20 times the daily average of around 2 million. The company said last night that it is buying oil sands assets from ConocoPhillips for $13.3 billion, a tidy sum indeed.
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Rite Aid Corp. (RAD) posted a new 52-week low of $4.37 on Thursday, down about 2.5% compared with Wednesday's closing price of $4.48. The stock's 52-week high is $8.77. Volume was about 30% below the daily average of around 8.8 million shares. The company had no specific news.
First Solar Inc. (FSLR) dropped about 3.3% Thursday to post a new 52-week low of $27.11 after closing at $28.03 on Wednesday. The stock's 52-week high is $69.64. Volume was roughly equal to the daily average of around 2.9 million shares. The company completed the sale of its Moapa project this morning.