After Hitting 52-Week Low, Tongxin Plummets Pre-market

Posted in Uncategorized 
October 12th, 2010

Chinese auto parts company Tongxin Internation Limited (NASDAQ: TXIC) hit a new 52-week high yesterday of $3.48 cents. This morning, it appears that this price won’t remain the 52-week low for long. At 8:26AM EDT, TXIC was trading at $3.12, down 58 cents (15.68%) from its close yesterday. At that time, the stock had traded 4,260 shares, with an average daily volume of 110,000 shares. The 52 week range, at least until market open, is $3.48-$12.07.

-Michael B. Sauter

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