Alibaba, Snap Plunge into Monday’s 52-Week Low Club

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September 10, 2018: Here are four stocks trading with heavy volume among 139 equities making new 52-week lows in Monday’s session. On the NYSE advancers led decliners by about 1.61 to 1, and on the Nasdaq, advancers led decliners by about 1.11 to 1.

Alibaba Group Holding Ltd. (NYSE: BABA) traded down about 4.5% Monday and posted a new 52-week low of $155.00 after closing Friday at $162.37. The stock’s 52-week high is $211.70. Volume was about 50% above the daily average of around 21 million. Founder and executive chairman Jack Ma has said he plans to leave the company at the end of 2019.

Snap Inc. (NYSE: SNAP ) traded down about 3.8% Monday to set a new 52-week low of $9.55 after closing at $9.93 on Friday. The stock’s 52-week high is $21.22. Volume was about 35% higher than the daily average of around 20 million. The company’s chief strategist has announced his departure.

Altaba Inc. (NASDAQ: AABA) traded down about 2.7% Monday to post a new 52-week low of $63.08 after closing Friday at $64.82. The stock’s 52-week high is $82.45. Volume was about equal to the daily average of around 12.7 million shares. The company announced an offering of new shares in Yahoo Japan.

Applied Materials Inc. (NASDAQ: AMAT) dropped about 1.1% Monday to set a new 52-week low of $39.40. Shares closed at $39.85 on Friday and the stock’s 52-week high is $62.40. Volume totaled around 12.1 million, less than 10% below the daily average. The semiconductor equipment maker is turning into an over-priced house in a declining neighborhood. https://247wallst.com/technology-3/2018/09/06/semiconductor-capital-equipment-sector-still-has-too-much-bull-market-hope/