Alibaba Group Holding Ltd. (NYSE: BABA) dropped about 1.1% on Monday to a new post-IPO low of $84.92 after closing at $85.88 on Friday evening (also a post-IPO low). Share volume is about a third of the daily average of around 40 million. The Chinese internet giant has now dumped about $15 from its IPO-day high of $99.70.
General Motors Co. (NYSE: GM) dropped about 0.8% today to post another 52-week low of $30.04. The stock’s 52-week high is $41.85. The automaker is hanging on to the $30 level, but how much longer can it do that? Trading volume is about equal to the daily average of around 13 million shares traded.
Rite Aid Corp. (NYSE: RAD) sank to a new 52-week low on Monday of $4.50. Based on Friday night’s closing price of $4.85 that’s a drop of about 7.2%. The stock’s 52-week high is $8.62. Trading volume is about a 20% below the daily average of around 30 million shares. The company beat September same-store sales handily last week, so we might be seeing some profit-taking here today or it could be just more investors deserting a stock that has been dropping since June.
Vivint Solar Inc. (NYSE: VSLR) posted a drop of about 5% today to a new post-IPO low of $11.23 against a high of $18.71. Volume is less than 15% of the daily average of around 5.4 shares. The company company had no news today, but IPO haircuts seemed to be in fashion on the semi-holiday.
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