Vuzix (NASDAQ: VUZI)
Vuzix started the day off in the market like any other normal day. However, minutes ago, we started to see big declines in the value of the stock. So, what’s causing it? Today, we’ll talk about what we’re seeing in the market, why we’re seeing it, and what we can expect to see from VUZI ahead.
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VUZI Falls Mid-Day
As mentioned above, Vuzix had a relatively normal start to the trading session today, making it into the green early on. However, minutes ago, we started to see big declines on the stock. Currently (12:07), VUZI is trading at $6.78 per share after a loss of $0.57 per share or 7.82% thus far today.
What’s Causing The Drop
When the CNA Finance Team saw that VUZI was taking such a big dive in the market, we decided that it was time to investigate. The first thing we look for in these types of investigations is some kind of fundamental news. However, when we searched the news, there were no new releases surrounding the stock. So, it was time to look elsewhere.
Soon, we looked at the activity on the stock throughout the day. It seems as though the downtrends started when someone offloaded about 150,000 shares. Since then, we’ve seen incredible volatility as the market reacted to the dumping of Vuzix shares.
What We Can Expect To See Ahead
Given the reason for the declines today, I’m not expecting that the massive downward activity will last very long. However, the stock has been on the decline for some time as the company has several hurdles to make its way over. So, while we may not see huge declines like this moving forward, I wouldn’t say that this is a strong investment choice either.
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