Cree (CREE) Volatility Elevated as Shares Dive on CFO Resgination
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Cree, Inc. (Nasdaq: CREE) volatility is elevated in early trading as shares sell on a newly announced executive departure.
Earlier, the company reported its CFO -- John Kurtzweil -- resigned effective May 21, 2012, to pursue other opportunities. Literally within the same minute, Extreme Networks (Nasdaq: EXTR) issued its own release stating Kurtzweil joined as CFO.
Implied volatility at Cree is up 12.9 percent from Monday's close. Shares are down over 11 percent in early Tuesday trading.
Earlier, the company reported its CFO -- John Kurtzweil -- resigned effective May 21, 2012, to pursue other opportunities. Literally within the same minute, Extreme Networks (Nasdaq: EXTR) issued its own release stating Kurtzweil joined as CFO.
Implied volatility at Cree is up 12.9 percent from Monday's close. Shares are down over 11 percent in early Tuesday trading.
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