Down Price/Volume Surge: Synchronoss Technologies, Inc. (SNCR)

Posted in General 
June 10th, 2008

Synchronoss Technologies, Inc. (NASDAQ: SNCR) is seeing a surge in trading thie morning, and not for the better.  The iPhone and other service activation provider is under fire on strong trading volume.  After 30 minutes of trading we have seen more than 1.3 million shares trade hands and the stock is down over $2.00 or by more than 15% to $11.22.

The average daily volume is only 1,300,000 shares and we’ve already seen this amount trade this morning in 30 minutes.  While the new 3G iPhone may be a positive for the company in thought, it appears that the telecom operator subsidy is thought to be at least partly at its expense.

Count this as a 52-week low as the prior 52-week trading range was $11.90 to $48.03.

STOCK OPTIONS: YES

Market Cap: $372 million

Jon Ogg
June 10, 2008

Leave a Reply

You must be logged in to post a comment.

-->