Why Maxar Technologies Stock Crashed Today
Pity Maxar Technologies (NYSE: MAXR) shareholders: They just can't catch a break.
Last week, the stock received two bullish reports from Wall Street, which you would have expected to send the stock flying. On Thursday, a neutral R.W. Baird initiated coverage with a $39 price target that implied roughly 14% upside for the stock, but it fell anyway. One day later, Morgan Stanley initiated coverage with an even more bullish overweight rating and $50 price target (48% upside), but Maxar stock rose less than 2%.
And on Monday, after last week's underwhelming reaction, no one said "boo" to Maxar, but the stock plummeted to close 8.8% lower.
Source Fool.com
