LVLT, along with many others in its sector on Monday, traded down. LVLT ended up the session down over 5% to close at $4.77. Volume was fairly heavy on the session, with over 31 million shares traded, compared to a normal daily average of 23 million shares. After racing up to $5.80 in almost a straight line over the past three months, LVLT, along with others in its sector, has been pulling back. The question is; will they keep pulling back, or are we near the bottom of the pullback? Is the heavy volume a sign that the selling is accelerating? As of Monday’s close, LVLT currently has a market cap of $3.91 billion dollars. As of last count, the company currently has over 80 million shares short.
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