Why Ubiquiti Stock Dropped 11% Today
Ubiquiti (NYSE: UI) stock -- like most stocks -- fell apart in Monday trading, closing the day down 10.7%. In fact, at one point, Ubiquiti apparently fell quite a bit faster than most stocks. According to TheFly.com, the first 20 minutes of trading this morning saw Ubiquiti shares sink so fast that trading in the stock was actually halted because of volatility in the trading day's 21st minute.
But was there an actual reason for the sell-off? I mean, a reason other than coronavirus?
Image source: Getty Images.
Source Fool.com
