Wall Street tumbles again; half of Memphis’ public companies hit 52-week lows
Memphis Business Journal
Shares of seven of 14 Memphis-based public companies hit new 52-week lows Thursday with shares in all companies trading down.
Those included AutoZone Inc. (NYSE: AZO), Education Realty Trust Inc. (NYSE: EDR), International Paper Co. (NYSE: IP), Mid-America Apartment Communities Inc. (NYSE: MAA), Thomas & Betts Corp. (NYSE: TNB), Verso Paper Corp. (NYSE: VRS) and Wright Medical Group Inc. (NASDAQ: WMGI).
Education Realty had the biggest percentage drop, sliding 21.69 percent to close at $2.60. It’s previous 52-week low was $3.21, hit Wednesday.
Mid-America had the biggest dollar drop, falling $2.89 to $24.04 a share. The previous 52-week low of $26.78 was hit Wednesday.
All the major indexes dropped Thursday, with the Dow Jones industrial average falling 444.99 to close at 7,552. Oil futures fell below $50 a barrel.
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