Community Health Systems Sharply Lower After Lowered Guidance

Community Health Systems CYH shares are trading sharply lower by $4.03 at $6.00 in Thursday's session. The catalyst for the decline is the announcement that the company has lowered its 2016 Q3 adjusted EBITDA view.

The announcement instigated two downgrades from Baird and Mizuho.

Following a sharply lower open ($6.50 vs. Wednesday's close of $10.03), it could only manage a $0.03 bounce before continuing its move lower.

The ensuing decline has taken the issue under $6 for the first time ever, reaching $5.86. That far exceeds its former all-time-low of $9.66 that was made in August. At this time, it's attempting to remain in the $6 handle.