3 stocks people are buying now

June 17, 2013: 7:57 AM ET
lululemon5day
Lululemon's stock tumbled nearly 19% after the company annnounced its CEO will be stepping down.
NEW YORK (CNNMoney)

Three of the most popular stocks this past week had one thing in common: They all recorded steep declines, making them hot bargains.

Investors swooped in, hoping to pocket quick gains if they recover this week.

First Solar, lululemon and Facebook -- all had harsh news to contend with during the week, sending their stocks spiraling down. The low prices attracted investors, making them last week's most-bought stocks, according to data from online broker TD Ameritrade.

"People are playing them not necessarily as a long-term holding, but for a bounce," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "They'll get the bounce early next week."

First Solar

The trigger: The solar panel maker's shares sunk almost 16% last week, after First Solar (FSLR) said it planned to sell 8.5 million shares in a secondary offering.

The secondary offering should have been a positive for investors: The company swung a profit in the first quarter, and the stock has rallied nearly 70% this year to $44.71. These are prime conditions under which the company should raise more capital.

But a company's stock often falls after a second offering because more shares mean that ownership gets watered down.

Lululemon

The trigger: The trendy yoga-wear maker announced last Monday that CEO Christine Day is stepping down. The move followed a controversy earlier in the year in which lululemon (LULU) was forced to pull certain yoga pants from stores, because they were see-through.

The stock was down nearly 19% for the week at $66.15.

Facebook

The trigger: The social media giant held its first meeting for shareholders on Tuesday. Chief executive Mark Zuckerberg faced a barrage of angry questions from investors, many of whom aren't happy with the performance of the company since it went public last year. Facebook's (FB) stock, at $23.63, is trading nearly 40% below the price of last year's initial public offering.

Markets
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Index Last Change % Change
Dow 17,356.87 288.00 1.69%
Nasdaq 4,644.31 96.48 2.12%
S&P 500 2,012.89 40.15 2.04%
Treasuries 2.15 0.08 3.72%
Data as of 4:53am ET
Company Price Change % Change
Bank of America Corp... 17.26 0.00 0.00%
General Electric Co 24.43 0.00 0.00%
Apple Inc 109.41 2.66 2.50%
Cisco Systems Inc 26.81 0.22 0.85%
Microsoft Corp 45.74 0.58 1.28%
Data as of Dec 17