RightNow (RNOW) Unaware Of Reason for Late Session Sell-Off
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RightNow Technologies (Nasdaq: RNOW) had a mysterious 13% sell-off just before the close yesterday, raising eyebrows across Wall Street. Shares recovered slightly after the close, but remain well below the share price before the sell-off commended.
StreetInsider.com received a return phone call from a company spokesperson who said the company was unaware of any reason to explain the sharp sell-off. The spokesperson said a large short sale or other share sale near the close may have triggered the exaggerated plunge.
The company would not say if the company has talked to NASDAQ officials about the odd trading, or if the company will address the sell-off in a formal press release.
RightNow has already received a vote of confidence this morning after analysts at Piper Jaffray upgraded shares to Overweight.
StreetInsider.com received a return phone call from a company spokesperson who said the company was unaware of any reason to explain the sharp sell-off. The spokesperson said a large short sale or other share sale near the close may have triggered the exaggerated plunge.
The company would not say if the company has talked to NASDAQ officials about the odd trading, or if the company will address the sell-off in a formal press release.
RightNow has already received a vote of confidence this morning after analysts at Piper Jaffray upgraded shares to Overweight.
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