December 21, 2018: Here are four stocks trading with heavy volume among 1,266 equities trading at new 52-week lows about an hour before Friday’s close. On the NYSE, decliners led advancers by about 2.27 to 1 and decliners led advancers on the Nasdaq by about 2.99 to 1.
The three major indexes are on track close the day with losses currently ranging between 1% and 2%. Crude oil traded down about 4.8% on the day to settle at $45.88 a barrel. February crude futures today became the front-month contract. Gold settled down 0.8% at $1,258.10 for the day but added about 1.4% for the week.
Bank of America Corp. (NYSE: BAC) traded down about 1.9% to post a new 52-week low of $23.64 Friday after closing at $24.11 on Thursday. The stock’s 52-week high is $33.05. Volume was about 15% higher than the daily average of around 71 million. The big bank had no specific news.
Facebook Inc. (NASDAQ: FB) traded down more than 6% to post a new 52-week low of $125.21 Friday after closing at $133.40 on Thursday. The stock’s 52-week high is $218.62 and volume was about 33% above the daily average of around 26 million. Needham analyst Laura Martin maintained her Buy rating on the stock but cut her price target from $215 to $170.
Ford Motor Co. (NYSE: F) dropped about 1.9% Friday to set a new 52-week low of $8.10. Shares closed at $8.26 on Thursday and the stock’s 52-week high is $13.48. Volume was about 30% lower than the daily average of around 49 million. U.S. new car sales are expected to decline next year. On top of that Ford is recalling nearly 900,000 pickups.
Citigroup Inc. (NYSE: C) traded down about 3% Friday and posted a new 52-week low of $50.68 after closing Thursday at $52.27. The stock’s 52-week high is $80.70. Volume was about 50% higher than the daily average of around 19 million. Another big bank that had no specific news–and all of it apparently bad.
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