Smith & Wesson Sharply Lower

Smith & Wesson

shares are trading lower by $2.40 at $26.85 in Thursday's session. The issue is giving back some of its gains since it bottomed on January 20 at $19.18. After a lower open, it was unable recoup its closing price ($29.06), only reaching $28.90 before continuing lower. The ensuing decline has found intraday support at $26.16 and it attempting to rebound. The issue has not closed in the $26 handle since March 7, when it ended the session at $26.89.