Re: MDCC Fluctuations
My quick take on MDCC trading yesterday:
The stock ran up yesterday into its earnings announcement. This is not an unusual occurance.
After the market closed yesterday the company announced Q2 earnings which beat analyst estimates by .01, however, their Q3 guidance of .22-.24 was below analyst estimates of .25.
After the earnings announcement, in after hours trading, the stock dropped. This is also not an unusual occurance for a company that ran up into earnings but then guided lower on future earnings.
This company also has a relatively low volume of trading, so it doesn't take much to move the stock price around, especially in after hours.
Here's the nasdaq reported trading in AfterHours and PreMarket (note the wide swings)...
After Hours
Time (ET) After Hours / Price After Hours / Share Volume
17.12 $ 21.50 100
16.53 $ 21.10 250
16.27 $ 20.75 500
16.27 $ 20.77 250
16.25 $ 20.76 400
16.22 $ 21 500
16.20 $ 21 200
16.20 $ 21.74 400
16.20 $ 21.78 300
16.20 $ 21.78 2000
16.05 $ 21.81 15000
16.01 $ 21.80 150
Pre-Market Time (ET) / Pre-Market Price / Pre-Market Share Volume
09.25 $ 21.73 100
09.00 $ 21.75 500
08.47 $ 21.09 100
08.25 $ 21 100
MDCC stats today during regular market hours (so far):
Open: 21.23
High: 21.56 (reached in the opening minutes - around 9:35 ET)
Low: 20.81 (around 10:10 ET)
Price @2pmish ET: 20.90
Vol: roughly 120,000
On their website, in the investor relations section is a link to today's conference call on earnings, you might want to listen to it.
Also of interest, insiders have been net selling over the past year.
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