Swift Transportation Co (NYSE: SWFT)
Swift Transportation was off to what seemed to be a relatively normal day in the market. After starting the day off slightly in the green, the stock fell slowly to the red, but neither gains nor losses were anything to write home about. However, minutes ago the stock started to take a dive. Below, we’ll talk a bout what we’re seeing, why, and what we’ll be watching for with regard to SWFT ahead.
What We’re Seeing From SWFT
As mentioned above, Swift Transportation was having a normal day in the market today. After starting the day in the green, the stock fell slowly to the red, but none of the movement was big. Nonetheless, that all changed minutes ago as the stock started to spiral down into the abyss. Currently (10:44), SWFT is trading at $25.53 per share after a loss of $0.82 per share or 3.11% thus far today.
Why The Stock Is Falling Apart
As always, as soon as we were notified by Trade Ideas that SWFT was taking a dive, the CNA Finance team went to work to see what was causing the movement. In this case, the company hasn’t released any fundamental news that would lead to such strong downward movement. Nonetheless, we are seeing something on Twitter.
At the moment, there’s quite a bit of chatter surrounding Swift Transportation on Twitter. The rumor is simple. According to the chatter, insiders at the company are expecting for earnings to come in on the low range of guidance on their next release. Of course, this is bad news as investors want to see a strong performance.
What We’ll Be Watching For Ahead
Moving forward, we’ll be keeping a close eye on SWFT. We’re interested to see if any confirmation of this rumor is offered any time soon. We’re also interested to see how the company does on their next report. Nonetheless, we’ll be watching the news closely and be sure to bring it to you as it breaks!
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[Image Courtesy of Wikimedia]