Hummingbird shares flutter back to earth
OTTAWA, Dec 28 (Reuters) - One day after a late-day trading bubble lifted its stock by 29 percent, shares in software developer Hummingbird Communications Ltd. (Toronto:HUM.TO - news) (NasdaqNM:HUMC - news) came crashing back to earth on Thursday.
The stock, which led net losses on the Toronto Stock Exchange, shed C$9.50, or 16 percent, to C$50.50 on a light volume of 55,500 shares on Thursday. On Nasdaq, it lost $6-1/4 to $33-3/4 as 42,000 shares changed hands.
The Toronto-based company, which sells enterprise information and computer connectivity software, did not issue any announcements on Wednesday or Thursday.
``We're not aware of anything which would make the stock take such a large swing,'' chief financial officer Inder Duggal told Reuters.
``We have no idea why the stock has gone up so much, but this was only natural, I guess, that it came down today.'' |
