Why Alight Stock Got Mashed on Monday
The pain felt by Alight (NYSE: ALIT) shareholders continued through Monday's trading session. The stock, battered last week after investors traded out of it following a disappointing earnings report, shed a bit more of its value that day. Its price fell by 5%, as an analyst at a top bank became more bearish on the company.
That pundit was Bank of America Securities' Curtis Nagle, who made a rather drastic chop to his Alight fair value assessment. He reduced it to $0.50 per share, well down from his previous $1.40. Not surprisingly, he maintained his underperform (i.e., sell) recommendation on the beleaguered tech stock.
Source Fool.com
