Prothena, Akorn Plummet into Monday's 52-Week Low Club

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April 23, 2018: Here are four stocks trading with heavy volume among XX equities making new 52-week lows in Monday’s session. On the NYSE decliners led advancers by about 8 to n7 and on the Nasdaq, decliners led advancers by about 4 to 3.

Prothena Corp. plc (NASDAQ: PRTA) traded down 70% Monday to post a new 52-week low of $11.05 after closing Friday at $36.84. The stock’s 52-week high is $70.00. Volume was more than 20 times the daily average of around 580,000 shares. The company is stopping development on an amyloidosis treatment following a failed late-stage trial.

Akorn Inc. (NASDAQ: AKRX) fell by about 37% Monday to post a new 52-week low of $12.40 after closing at $19.70 on Friday. The 52-week high is $34.00. Volume of about 13.6 million was more than six times the daily average of about 2.1 million. The company’s proposed acquisition by Fresenius was cancelled by the buyer this morning.

The Procter & Gamble Co. (NYSE: PG) dropped about 1.4% Monday to post a new 52-week low of $72.76. Shares closed at $73.80 on Friday and the stock’s 52-week high is $94.67. Volume was about equal to the daily average of around 10.7 million shares. The company had no specific news Monday.

Philip Morris International Inc. (NYSE: PM) traded down about 1.4% Monday and posted a new 52-week low of $83.10 after closing Friday at $84.27. The stock’s 52-week high is $123.55. Volume totaled around 9.3 million, about 130% above the daily average. The company had no specific news.

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