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Why Synchronoss Technologies, Inc. Stock Dropped 11.4% in November

TheMotleyFool

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Why Synchronoss Technologies, Inc. Stock Dropped 11.4% in November

Shares of Synchronoss Technologies Inc. (NASDAQ: SNCR) fell 11.4% in November, according to data from S&P Global Market Intelligence, after a notable analyst reiteration.

More specifically, with shares trading up modestly from the start of last month through Nov. 29, Synchronoss stock plunged nearly 13% in a single day on Nov. 30. Though it first appeared that there was no news to substantiate the drop, it seems that a note on Nov. 29 from Stifel Nicolaus analyst Tom Roderick is the likely culprit behind the plunge.

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Source: Fool.com