Gilat, Exponential Volume Tanker (GILT)

Posted in General 
August 25th, 2008

Shares of Gilat Satellite Netowrks (NASDAQ: GILT) are being pounded riight at the open.  Shares are down almost 10% at $7.81 right after the open and we have already seen more than two and a half times volume with over 530,000 shares after 10 minutes and the pre-market session.

The company missed earnings, and its merger partner is dropping the bid.  That’ll do it every time.  While this is a 52-week low under the prior range of $8.35 to $11.34, this is actually better than the lows of $7.00 seen in early pre-market trading.

JON OGG
August 25, 2008

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