Question:

Why did SIRF go down in price so much over the past 2 days?

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Why did SIRF go down in price so much over the past 2 days?

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2 ANSWERS


  1. The link below will explain how their market share is being challenged


  2. Well Annie, there's really no specific public news out over the last two days that might explain the drop.  But this is a very volatile and smaller stock, and a 15% price move over 3 days isn't (and shouldn't be) surprising, given the current questions about the company's future.  It is down 85% from a year ago, but it is still up 20% from a few months ago.  Stocks that have questionable futures move much more than other stocks.  And stocks that have low volumes are typically more volatile too.  This stock has both of those.  The stock trades on average about 2.7 million shares a day.  And at about $6 a share, that means there's about $16 million a day in total volume, on average.  If one person or mutual fund with any substantial holdings has seen the recent bounce and has decided to get out, they have to unwind their positions over a few days, they can't just put 2 million shares on an order at once or it would just spike the price down.  People are simply selling the stock more than they are buying it, that's why its down.

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