Why Extreme Networks Dropped 15% in February
It was a painful month for investors of Extreme Networks (NASDAQ: EXTR). The stock was down 14.7% in February, according to data provided by S&P Global Market Intelligence. But it was actually even more "extreme" than that. Consider that the stock rose for the first half of the month, but after reaching a high of $6.71 on Feb. 13, it tanked 25%, to end the month at $5.03 per share.
The drop-off wasn't isolated to Extreme Networks. Fellow networking-company Arista Networks (NYSE: ANET) similarly dropped 14% in February. But its drop was in two stages -- once from poor earnings, and then due to the overall market correction. Extreme Networks' drop, by contrast, corresponds perfectly to the market's fastest 10% drop ever.
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Source Fool.com
