Shares of Canadian Imperial Bank of Commerce CM, -1.12% dropped 1.12% to C$58.41 Thursday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE, -0.51% falling 0.51% to 18,579.29.
This was the stock’s second consecutive day of losses. Canadian Imperial Bank of Commerce closed C$25.34 below its 52-week high (C$83.75), which the company reached on February 8th. Trading volume of 6.6 M shares eclipsed its 50-day average volume of 3.6 M.