Everspin Technologies Lower For 5th Day In A Row

Everspin Technologies Inc MRAM shares are trading lower by 90 cents (7 percent) at $11.76 in Tuesday's session.

The stock is now trading lower for the fifth day in a row, falling from its Oct. 3 close ($15.92) to as low as $11.49 earlier in today's session. There is no specific news to account for the decline in and may be more of a technical break down, when the stock couldn't hold a series of lows at the $15.50 area from the beginning of the month.

After a lower open, Everspin rallied but couldn't reach Monday's close of $12.66 before resuming its move lower. So far, the ensuing decline took the stock to $11.59 and it hasn't been able to reenter the $12.00 handle. The current low coincides with its May 25 low of $11.64, as well as its May 23 low of $11.49.