This is one puzzling stock. The stock drops from 5.85 to 5.67 in the last 10 minutes of the day on a strong tape. Bizarre.
Moreover, the stock has the tendency to drop very fast on no news for no apparent reason. A couple days ago, the stock was $5.99 and went down to $5.43 (intraday) for no reason. The market was only down about 20 points that day. All the other stocks that dropped the most (on a percentage basis) that day had a reason (earnings, downgrade, executives leaving a company), OMX - nothing.
It is the typical erratic movement you can expect before a stock goes on a long climb (or long descent). In this case, the movement is upward. Sure, like any other stock in this economy, it will have it's ups and downs along the way, but you must trust me that this stock is positioned to double within 10 months. So stop sticking your toe in, man up, jump in and buy some. You'll be thanking me later.
The stock went down from $5.99 to $5.49 because of :
The stupid representative od office Max did not respond to why office Max closed the store at Crossroad plaza .
The lease was ended and the store was not profitable and Office Max some more stores in the city . That is what he could have said but the stupid rep. did not have any comment to say that is why may be the stock went down for it.
Office depot are closing more stores than Max and staples but they are good in calming the market.