General Electric, Alibaba Plunge Into Tuesday’s 52-Week Low Club
Alibaba, General Electric, AK Steel, and Weatherford International all posted new 52-week lows on Tuesday.
October 30, 2018: Here are four stocks trading with heavy volume among 250 equities making new 52-week lows just before noon on Tuesday. On the New York Stock Exchange, advancers led decliners by about 2.2 to 1, and on the Nasdaq, advancers led decliners by about 2.18 to 1.
General Electric Co. (NYSE: GE) traded down about 9% Tuesday and posted a new 52-week low of $10.15, after closing Monday at $11.16. The stock’s 52-week high is $20.75. Volume already was nearly double the daily average of around 74 million. After a premarket bump, shareholders got serious.
Weatherford International PLC (NYSE: WFT) traded down more than 28% Tuesday to post a new 52-week low of $1.10, after closing Monday at $1.54. The stock’s 52-week high is $4.41. Volume was already well more than double the daily average of around 17.6 million shares. The company missed some expectations Monday morning and offered a weak outlook for the fourth quarter. Investors have been running away for two days.
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Alibaba Group Holding Ltd. (NYSE: BABA) traded about 2.5% Tuesday to set a new 52-week low of $130.06, after closing at $133.38 on Monday. The stock’s 52-week high is $211.70. Volume was about half the daily average of around 24 million. The company had no specific news.
AK Steel Holding Corp. (NYSE: AKS) dropped about 6.3% Tuesday to set a new 52-week low of $3.42. Shares closed at $3.65 on Monday, and the stock’s 52-week high is $6.80. Volume was about 20% below the daily average of around 11.8 million. The company had no specific news.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.