Caterpillar Continues Lower For Sixth Day In A Row

Caterpillar Inc. CAT shares are trading lower by $0.50 at $80.97 in Tuesday's session. It is trading lower for the sixth day in a row, moving from its year-end close of $67.96 to its current level.

It is now trading at its lowest level since July 2010, when it bottomed at $59.21.

The issue was discussed on PreMarket Prep. On the broadcast, Gordon Johnson of Axiom Capital outlined his bearish thesis on the issue. Johnson was comfortable with his Sell rating and $28 price target.