19 Apr '13, 12pm

Are Investors Right To Panic About Exide Technologies?: Filed under: Energy News

On Thursday, April 4th, battery manufacturer and recycler Exide Technologies’ (NASD:XIDE ) stock plunged, starting around 2pm. There was no press release or SEC filing from the company, or stories on the public newswires. Likely short sellers were stoking rumors on the chat boards that the company had filed for bankruptcy, and that the story was on Reuters. Electric Storage Battery Company advertisement for Exide batteries in the journal Horseless Age, January 15, 1918 Intraday, panicked shareholders dumped their shares for as little as $1.16, down 56% from the previous day’s close. Nasdaq circuit breakers stopped the plunge at 2:17 . I spotted the decline when I checked the market at 2:45, and began hunting for its cause. The company’s IR contact line was busy, and I found nothing credible in the public newswires or chat boards. I knew the bankruptcy rumors were exaggerat...

Full article: http://www.altenergystocks.com/archives/2013/04/are_inves...

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