Alibaba, Ford Plunge into Tuesday’s 52-Week Low Club
October 9, 2018 by Paul AusickOctober 9, 2018: Here are four stocks trading with heavy volume among 201 equities making new 52-week lows in Tuesday’s session. On the NYSE advancers led decliners by about 1.02 to 1, and on the Nasdaq, decliners led advancers by about 1.12 to 1.
Ford Motor Co. (NYSE: F) traded down about 3.2% Tuesday to post a new 52-week low of $8.96 after closing Monday at $9.26. The stock’s 52-week high is $13.48. Volume was about 15% above the daily average of around 40.8 million shares. The company had no specific news.
Trevena Inc. (NASDAQ: TRVN) traded down about 67% Tuesday and posted a new 52-week low of $0.97 after closing Monday at $2.98. The stock’s 52-week high is $3.58. Volume was about 16 times the daily average of around 2.3 million. The company’s opioid injection treatment for pain got a bad review from the FDA which said that the treatment could be abused and may lead to overdoses.
Snap Inc. (NYSE: SNAP) traded down about 6% Tuesday to set a new 52-week low of $7.03 after closing at $7.48 on Monday. The stock’s 52-week high is $21.22. Volume was a bit higher than the daily average of around 22.2 million. Media analyst firm MoffettNathanson this morning cut Snap’s 2019 revenue estimate by 7% and the 2020 estimate by 15%, adding that Snap is “quickly running out of money.”
Alibaba Group Holding Ltd. (NYSE: BABA) dropped about 3% Tuesday to set a new 52-week low of $146.47. Shares closed at $151.14 on Monday and the stock’s 52-week high is $211.70. Volume was about 15% higher than the daily average of around 21.7 million. The company had no specific news.
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