CHS shares continue downward spiral, sink to new low

Shares of Franklin, Tenn.-based Community Health Systems closed July 16 at $2.33, their lowest closing price ever.

The hospital chain's shares traded between $2.27 and $2.40 on July 16. CHS shares' closing price on July 16 was down 2.9 percent from the day prior.

In recent years, CHS has struggled with a heavy debt load and faced financial challenges. CHS ended the first quarter of 2019 with a net loss of $118 million on revenues of $3.38 billion. That's compared to the same period of 2018, when the hospital chain recorded a net loss of $25 million on revenue of $3.69 billion.

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