Adeptus Health's Stock Cut In Half

Adeptus Health Inc ADPT shares are trading lower by $16.50 (62 percent) at $10.37 in Wednesday's session. A few different catalysts account for the sharp decline.

• The company announced a huge Q3 miss for EPS and nearly a $5 million for revenues. The company slashed its FY 2016 EBITDA outlook.
• The report prompted Bank of America and Jefferies to downgrade the issue.
• Investors may also be concerned the company needs to various financial alternatives through Goldman Sachs.

After a sharply lower open, it bounced only a dime to $11.30 before continuing its move lower. It has continued to make new lows for the day, with the current one standing at $9.91. That marks a new all-time low for the issue by nearly $14. Its previous all-time low was made in August 2014 at $23.88.