Axiom's Gordon Johnson Comments On SunEdison Inc. Takes Its Toll

SunEdison's Inc.
SUNE
shares are trading lower by $0.78 or 23 percent at $2.58 in Tuesday's session. The widely followed issue as of late was the main subject with Gordon Johnson of Axiom Capital on Tuesday' Benzinga PreMarket Prep broadcast. Johnson, who has been a long-term bear in the solar sector, detailed his thesis on the company's recent financial woes. Also, he questioned whether its current course of action will allow the company to be an ongoing concern.' Aggresive shorts that were privvy to the live interview pounced on the issue moments after the opening bell and have continued to pound the issue. After a lower open, it rallied $0.04 above Monday's close ($3.34), to $3.38 before going into a free fall that has not yet ended. At this time, the issue is trading at the lows for the session at $2.64. The only relevant level to focus on is its three year low that made on November 20 at $2.55. That low ended a horrible nine run that saw the price of the issue carom from $7.40 to $2.82 on a closing basis.

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