I don’t normally follow HHC that closely, but it jumped at me since it’s the top after-hours loser. Before this evening’s activity, it looks like the stock has already been on a wild ride. I didn’t research it, but I can only assume that monstrous jump on huge volume earlier this year was due to some very promising news.
Well, whatever it was that had people so giddy seems to have tumbled apart. The company issued a press release about something they call the Transformation Plan. You are supposed to have confidence in it because it’s capitalized, I suppose.
The result, capital letters notwithstanding, wasn’t so great.
On a separate note, a stock more widely followed – – Ameritrade – – is having a nice boost after hours. This should help heal up the price gap on the $XBD (broker/dealer index) and set up a potentially interestingly short play in that sector.