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Stock Investors Sell Off Shares of SYNNEX, Down 99.4%

Published on Fri, 04/19/2013 - 12:15
By Mallory Stone

SYNNEX (NYSE:SNX), a company whose shares are moving quickly, is trading 99.4% lower to $32.57. The S&P is currently trading 0.5% higher to 1,550 and the Dow Jones Industrial Average is trading 0.3% lower to 14,499.

SYNNEX Corporation provides information technology supply chain services. The Company offers services to original equipment manufacturers and software publishers worldwide. SYNNEX offers product distribution, related logistics services, and contract assembly.

SYNNEX (NYSE:SNX) has potential upside of 21.1% based on a current price of $32.57 and analysts' consensus price target of $39.43. The stock should run into initial resistance at its 200-day moving average (MA) of $34.79 and subsequent resistance at its 50-day MA of $37.55.

SYNNEX share prices have moved between a 52-week high of $41.22 and a 52-week low of $30.70 and are now trading 6% above that low price at $32.57 per share. The 200-day and 50-day moving averages have moved 0.01% higher and 0.61% lower over the past week, respectively.

By Mallory Stone