Market Overview

Mallinckrodt Rocked After Q4 Report

Share:
Related
Shkreli: Mallinckrodt Is A Terrible Short
The Market In 5 Minutes

Mallinckrodt PLC (NYSE: MNK) shares are trading lower by $4.50 (8 percent) at $53.27 in Tuesday's session. Despite a Q4 EPS beat of a nickel along with slight revenue beat, the issue has found nothing but sellers off the opening bell.

After a lower open, it found resistance ahead of Monday's close ($57.67), only reaching $57.16 before sellers flooded the issue. The ensuing decline has taken the issue as low as $51.55, but rebounded back into the $53 handle.

The current low coincides with a trio of lows at the $51 area from mid-March.

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

Related Articles (MNK)

View Comments and Join the Discussion!