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Why Ammo Stock Fell on Thursday

TheMotleyFool

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Really, Ammo (NASDAQ: POWW)? Back to back promises of triple-digit sales growth? What exactly are you planning for an encore?

Thursday morning, management at the penny stock turned momentum stock answered that question when they announced a stock buyback to try to keep the momentum going. However, the plan backfired: As of 1:47 p.m. EST, Ammo stock was down by 7.1%.

Image source: Getty Images.

Source Fool.com

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