Why Cinedigm Stock Jumped 14% in Early Trading Today
One day after the company's earnings release led to a steep drop in Cinedigm's (NASDAQ: CIDM) stock, the shares popped higher by as much as 14% as Wall Street opened for another day of trading on Feb. 24. Talk about a seesaw, but that's how things work sometimes at the corner of Broad and Wall in downtown Manhattan.
One of the key issues to consider with Cinedigm's stock volatility is that the shares are trading for less than $2. That means that even small absolute price moves can translate into very large percentage changes. And after a sizable drop on Feb. 23, it isn't surprising to see at least a bit of a recovery here. So investors probably shouldn't read too much into the swift reversal.
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Source Fool.com
