Star Scientific Implodes (STSI)
Posted in GeneralJune 17th, 2009
Star Scientific, Inc. (NASDAQ: STSI) is getting beaten worse than any red-headed step child could imagine. Shares are down a whopping 77% at $0.95 in early trading. The company had an adverse patent ruling in a tobacco case that is costing the company. Its prior 52-week trading range was $1.06 to $5.89. At 8:48 AM EST we have already seen 2 million shares trade hands and you might as well expect to see an exponential volume day. Average volume is only about 1.7 million shares. Its market cap yesterday was $430 million. Kiss that one goodbye. -Jon Ogg
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