Three Big Stocks Plunge To Fresh Lows Amid Company-Specific Concerns

Opendoor Technologies Inc., Oklo Inc., and McDonald's Corp. saw their stocks plummet to fresh 52-week lows on Friday, as investors reacted to company-specific concerns.

Opendoor stock hit an annual low of $2.74 after CEO Kaz Nejatian said housing conditions deteriorated toward the end of August, slowing the company's ability to sell homes and forcing management to accept thinner margins. The weaker market delayed Opendoor's path to sustained Adjusted Net Income profitability by roughly six to eight weeks.

JPMorgan trimmed its price target for Opendoor to $7 from $8 while retaining an 'Overweight' rating, citing concerns about cash use during the company's 'Opendoor 2.0' transition and the potential impact of higher interest rates on housing demand.

Oklo stock sank to a fresh 52-week low after announcing plans for a new $1 billion at-the-market share offering, which raised concerns about dilution despite exceeding second-quarter revenue expectations. Ten major investment banks will participate in the program to fund Oklo's advanced nuclear reactor plans and secure future fuel supplies.

McDonald's stock fell to a two-year low as weaker-than-anticipated U.S. sales continued to weigh on the company, with TD Cowen lowering its price target for MCD to $282 from $300 while maintaining a 'Hold' rating.