Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

5 Major Nasdaq Stocks That Hit 52-Week Lows This Week

The Nasdaq Composite index has had a rather volatile week after a severe downturn on Friday, but has ultimately managed to gain more than 0.9% so far this week. Amidst such volatility, several major stocks have hit 52-week lows this week, something that had been a rarity during the two-month bull run coming out of the Brexit dip.

Among the Nasdaq stocks hitting new yearly lows this week were Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC), First Solar, Inc. (NASDAQ:FSLR), Norwegian Cruise Line Holdings Ltd (NASDAQ:NCLH), 21Vianet Group Inc (NASDAQ:VNET) and Whole Foods Market, Inc. (NASDAQ:WFM). Let’s take a look at what has driven these stocks to such depressed valuations, and see how the hedge funds in our database have been trading these companies lately.

At Insider Monkey, we track around 750 hedge funds and other institutional investors. Through extensive backtests, we have determined that imitating some of the stocks that these investors are collectively bullish on, can help retail investors generate double digits of alpha per year. The key is to focus on the small-cap picks of these funds, which are usually less followed by the broader market and allow for larger price inefficiencies (see the details here).

stock, graph, low, crash, down, arrow, risk, fall, crack, price, bad, market, debt, statistics, sales, economy, decline, failure, red, loss, business, concept, diagram, rates,


Ericsson Touches Ground After Licensing Deal

Shares of Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) hit a 52-week low of $6.69 just before 11:00 am on Wednesday, after it announced that it was joining forces with some other key telecom patent holders to create a company that holds all of those patents and helps ease patenting. The new company, called Avanci, will incorporate patents from Ericsson, QUALCOMM, Inc. (NASDAQ:QCOM), ZTE, Royal KPN and InterDigital Inc. The companies plan to share the revenue derived from licensing deals. As of the end of the second quarter of 2016, Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) counted 12 hedge funds in our database long its stock, including Ken Griffin’s Citadel Advisors, with 1.04 million shares.

Follow Ericsson L M Telephone Co (NASDAQ:ERIC)
Trade (NASDAQ:ERIC) Now!

First Solar Sinks As Renewable Energy Plan Disappoints

Just before 10:00 am Wednesday, First Solar, Inc. (NASDAQ:FSLR) hit a 52-week low of $34.50, after the Desert Renewable Energy Conservation Plan, which had been in development for eight years, was met with disappointment from solar developers, who believe that it overly favors land conservation and won’t be nearly enough to meet the government’s climate change goals. 30 funds that we track held long positions in First Solar, Inc. (NASDAQ:FSLR) as of June 30. Among them was David Harding’s Winton Capital Management with 263,118 shares.

Follow First Solar Inc. (NASDAQ:FSLR)
Trade (NASDAQ:FSLR) Now!

We’ll check out three other stocks that have hit yearly lows recently on the next page.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.