Afternoon Market Losers

dropped 16.16% to $2.18 after the company announced $5 million placement of preferred stock with single institutional investor.

dipped 4.04% to $25.70 after the company announced closing of its IPO and full exercise of over-allotment option.

fell 11.45% to $6.73 on the company's unsustainable margin strength.

dropped 10.27% to $1.32 on company's announcement to cut 55 employees.

declined 11.18% to $5.97 after a day of high volume trading.

tumbled 19.78% to $1.25 after a recent delisting letter from NASDAQ.

dipped 10.36% to $39.80 after Monday's tremendous gain.

dropped 10.65% to $7.59 after the company announced secondary offering of 15,137,853 American Depositary Shares by selling shareholders.