False Volume Alarm: Synchronoss Technologies (SNCR)

Posted in General 
June 20th, 2008

If you watched the after-hours trading volume on NASDAQ last night you might have though that something was brewing Synchronoss Technologies, Inc. (NASDAQ: SNCR).  According to NASDAQ the stock traded some 207,200 shares after the 4:00 PM close with a final print down some 5.9% at $10.86 after closing at $11.54.  The issue at hand is that shares closed up more than $1.00 per share and these trades were likely intra-day trades that weren’t settled until shortly after the close.  Is this efficient in a world of full information? No.  Does it still sometimes happen?  Unfortunately, yes.

Jon Ogg
June 20, 2008

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