-0.08 (-6.15%)
The correct word to use for this week, when describing CNIT's stock performance, is "abysmal". Indeed, after a poor Q2 earnings report, the stock was justifiably punished, and did not do much rebounding at all. For the week, the stock finished down $0.68, or -35.79%. Volume has been, as expected, higher than average (over half a million shares per day), but of course the sellers have been in greater number than the buyers.
Here's the 15 minute chart for the last 4 days, with the drop occuring on August 10th after earnings were announced in the morning:
As you can see, CNIT is hitting new 52 week lows and has yet shown no signs of support. At these levels, and with a small stock such as CNIT, it's incredibly difficult to predict how low the stock might go. Only a significant volume of buyers jumping in on some kind of positive news could, in my opinion, give life back to the stock in the coming number of sessions. That or a general market lift, which I am not betting on.
What do you think about the near term (1-2 month) future of CNIT?
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