Star Scientific Implodes (STSI)

Posted in General 
June 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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