February 2, 2016: Here are five stocks trading with heavy volume among 209 equities making new 52-week lows today.
Tesla Motors Inc. (NASDAQ: TSLA) dropped about 8.5% on Tuesday, posting a new 52-week low of $180.23. Shares closed on Monday at $196.94 and the 52-week high is $286.65. Volume rose about 60% to 5.6 million compared with a daily average of 3.6 million. The stock’s price target was cut yesterday by a Tesla bull at Morgan Stanley and another analyst said that the stock is one his firm will avoid.
Qualcomm Inc. (NASDAQ: QCOM) dropped 7% on Tuesday to post a new 52-week low at $42.88 after closing at $46.11 on Monday. The stock’s 52-week high is $74.09. Share volume totaled around 17 million shares compared with the daily average of around 16 million shares traded. The semiconductor maker had no specific news today.
Morgan Stanley (NYSE: MS) posted a new 52-week low on Tuesday. Shares traded at a low of $24.39, down about 5.1%, after closing at $25.71 on Monday. The stock’s 52-week high is $41.04. Volume of more than 14 million represented a jump of about 10% above the daily average of around 13 million shares. The big bank agreed to pay a $63 million settlement related to a residential mortgage-back securities issue.
Key Corp. (NYSE: KEY) fell by about 3.4% on Tuesday to post a new 52-week low of $10.70 against a high of $15.70. The stock closed at $11.08 on Monday night. Volume rose to around 13 million, about 20% below the daily average of about 16 million shares traded. The bank holding company had no specific news today.
24/7 Wall St.Gilead Sciences Inc. (NASDAQ: GILD) dropped about 2.6% on Tuesday to post a new 52-week low of $81.89 against a 52-week high of $123.37. The stock closed at $84.05 on Monday night. Volume reached about 12 million shares, about 20% above the stock’s daily average volume of around 10 million. The drugmaker reports fourth-quarter results after markets close today, and investors appear unwilling to wait to see what happens.
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