We are seeing a flood of selling in Capstone Turbine Corp. (NASDAQ: CPST) in the first 30 minutes of trading this morning. We haven’t seen any fresh negative news out there but there was a rather large sell order that hit on the open today. As of 10:03 AM EST we have seen a 10.5% drop to $2.79 on over 3.56 million shares trading hands.
Average daily volume is about 5.5 million shares and its 52-week trading range is $0.91 to $4.42. Over the last week we have seen shares break down under the 50-day moving average (currently $3.69) but shares are still well above the 200-day moving average (currently $2.25).
This does have stock options that trade on it but we have not seen any unusual volume there.
July 24, 2008
Leave a Reply
You must be logged in to post a comment.