Ford, Snap Drop into Thursday’s 52-Week Low Club

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October 4, 2018: Here are four stocks trading with heavy volume among 158 equities making new 52-week lows in Thursday’s session. On the NYSE decliners led advancers by about 3.94 to 1, and on the Nasdaq, decliners led advancers by about 3.37 to 1.

Snap Inc. (NYSE: SNAP) dropped more than 8% Thursday to set a new 52-week low of $7.56. Shares closed at $8.23 on Wednesday and the stock’s 52-week high is $21.22. Volume was nearly 50% higher than the daily average of around 21.6 million. The company’s price target was cut from $9 to $7 at Evercore ISI. The firm maintained its Underperform rating.

Ford Motor Co. (NYSE: F) traded down about 0.4% Thursday to post a new 52-week low of $9.09 after closing Wednesday at $9.13. The stock’s 52-week high is $13.48. Volume was about 35% below the daily average of around 40.5 million shares. The company had no specific news. Shares turned around shortly after the morning bell and traded as high as $9.22 before dropping back to around flat for the day.

Manulife Financial Corp. (NYSE: MFC) traded down about 4.7% Thursday to set a new 52-week low of $17.21 after closing at $18.05 on Wednesday. The stock’s 52-week high is $22.16. Volume was more than 10 times the daily average of around 2 million. Short seller Muddy Waters has taken a position in the company.

JD.com Inc. (NASDAQ: JD) traded down about 4.3% Thursday and posted a new 52-week low of $24.06 after closing Wednesday at $25.14. The stock’s 52-week high is $50.68. Volume was about a third below the daily average of around 18 million. The company had no specific news.