NCI sees stock bounce back
After announcing that it had fired its controller because they suspected him of embezzling $18 million, NCI Inc. saw its stock plummet.
That was Jan. 23 and NCI’s stock dropped nearly 10 percent from $13.95 on the Friday before to $12.65 on the Monday the news was announced.
The stock stayed at that level for nearly two weeks but then on Feb. 2 it started creeping up. And now, the stock is higher than it was before the announcement of the embezzlement.
On Friday, Feb. 10, the stock closed at $14.30 and was trading higher than that during the day on Monday.
That’s a very good number for NCI considering that their 52-week high is $15.31.
A look at investor filings and other news announcements from the company doesn’t indicate anything in particular that would have fueled a bounce. There have just been normal, run-of-the-mill news.
Most likely it is just investors getting over the shock of the news.
Posted by Nick Wakeman on Feb 13, 2017 at 9:35 AM