Alibaba, Ford Drop into Wednesday’s 52-Week Low Club

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October 10, 2018: Here are four stocks trading with heavy volume among 328 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 7 to 1, and on the Nasdaq, decliners led advancers by about 4.84 to 1.

Alibaba Group Holding Ltd. (NYSE: BABA) dropped about 5.4% Wednesday to set a new 52-week low of $130.00. Shares closed at $146.94 on Tuesday and the stock’s 52-week high is $211.70. Volume was more than double the daily average of around 22 million. An analyst from Barclays slashed his price target on the stock from $225 to $210 earlier today.

Ford Motor Co. (NYSE: F) traded down about 1.6% Wednesday to post a new 52-week low of $8.81 after closing Tuesday at $8.95. The stock’s 52-week high is $13.48. Volume was about 5% above the daily average of around 41.4 million shares. The company had no specific news.

Snap Inc. (NYSE: SNAP) traded down about 5.7% Wednesday to set a new 52-week low of $6.60 after closing at $7.00 on Tuesday. The stock’s 52-week high is $21.22. Volume was nearly 50% higher than the daily average of around 22.4 million. The company launched its first scripted videos this morning. That would probably be good news if scripted videos weren’t so expensive to acquire or produce.

Applied Materials Inc. (NASDAQ: AMAT) traded down about 4.5% Wednesday and posted a new 52-week low of $34.10 after closing Tuesday at $35.72. The stock’s 52-week high is $62.40. Volume was about 65% higher than the daily average of around 11.8 million. The company had no specific news.