SodaStream Pops Over $20 Level Then Fizzles Out To Make New All-Time Low

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

SodaStream International Ltd SODA shares were trading lower by $1.08 (6 percent) at $17.81 in Wednesday's session.

The issue rallied to $20.20 in pre-market trading after the company reported better-than-expected Q4 earnings for the fourth quarter ($0.35 EPS vs. $0.18) and slightly lower sales ($126.5 million vs. $127.09 million).

Once the Street digested the lower sales figure, it reversed course and cascaded to a new all-time low at $16.80. The issue, which IPO'd in November 2010 at $24.75, rallied all the way to $79.72 by July 2011, before going into its death spiral.

It should be noted Wednesday's decline is taking place on much heavier than average volume with 2.8 million shares changing hands so far compared with its 20-day average of 630,000 shares.