Stock Market Alert: SFUN had an extremely rough ride on Friday, trading down over 25% to close the regular session at $21.70 after the company announced that it had lost one of its biggest customers, Qimonda. Qimonda announced that they were going to be scaling down the use of SFUN’s technology, sparking the drop in shares. Analysts estimated that this could take 25-30% off of SFUN’s revenues in 2007. Volume was extremely high on the news, with over 3.9 million shares of the stock changing hands, compared to a normal daily average of 77k.
Sorry, the comment form is closed at this time.