Ford, General Motors Crash into Friday's 52-Week Low Club
October 12, 2018: Here are four stocks trading with heavy volume among 465 equities making new 52-week lows in Friday’s session. On the NYSE advancers led decliners by about 1.35 to 1, and on the Nasdaq, advancers led decliners by about 1.44 to 1.
Ford Motor Co. (NYSE: F) traded down about 3% Friday to post a new 52-week low of $8.55 after closing Thursday at $8.81. The stock’s 52-week high is $13.48. Volume was less than 10% above the daily average of around 42.2 million shares. The company reported a massive year-over-year decline for car sales in China.
General Motors Co. (NYSE: GM) dropped about 1.6% Friday to set a new 52-week low of $31.49. Shares closed at $32.31 on Thursday and the stock’s 52-week high is $46.76. Volume was about 60% above the daily average of around 12.3million. The company had no specific news but a report on Chinese auto sales, cited in our story on Ford, is not good news for GM either.
Annaly Capital Management Inc. (NYSE: NLY) traded down about 0.8% Friday to set a new 52-week low of $9.81 after closing at $9.89 on Thursday. The stock’s 52-week high is $12.40. Volume was about 15% lower than the daily average of around 12.3 million. The company had no specific news.
Morgan Stanley (NYSE: MS) traded down about 1.4% Friday and posted a new 52-week low of $42.88 after closing Thursday at $43.49. The stock’s 52-week high is $62.40. Volume was about 10% above the daily average of around 9 million. The big bank had no specific news.