Facebook, Alibaba Slide into Monday's 52-Week Low Club
October 29, 2018: Here are four stocks trading with heavy volume among 374 equities making new 52-week lows on Monday. On the NYSE decliners lead advancers by about 1.41 to 1, and on the Nasdaq, decliners led advancers by about 1.63 to 1.
Weatherford International Inc. (NYSE: WFT) traded down about 24% Monday to post a new 52-week low of $1.51 after closing Friday at $1.98. The stock’s 52-week high is $4.41. Volume was more than double the daily average of around 17million shares. The company missed some expectations this morning and offered a weak outlook for the fourth quarter.
Alibaba Group Holding Ltd. (NYSE: BABA) traded about 6.9% Monday to set a new 52-week low of $133.00 after closing at $142.87 on Friday. The stock’s 52-week high is $211.70. Volume was about 10% above the daily average of around 24 million. The company had no specific news.
Flex Ltd. (NASDAQ: FLEX) traded down about 4.9% Monday and posted a new 52-week low of $6.74 after closing Friday at $7.09. The stock’s 52-week high is $19.71. Volume was about five times the daily average of around 5.7 million. The company continues to be batted around after a weak earnings report last Thursday.
Facebook Inc. (NASDAQ: FB) dropped almost 3.7% Monday to set a new 52-week low of $140.06. Shares closed at $145.37 on Friday and the stock’s 52-week high is $218.62. Volume was about equal to the daily average of around 25.5million. The company had no specific news but is scheduled to report third-quarter results tomorrow.