ENWV Continues Dramatic Sell-Off

We just got off the phone with the IR guy from Endwave Corp. (NASDAQ: ENWV), which is lower again after trading higher this AM. He basically reiterated what the company said in a press release last night, that there are no new developments at the company that would explain the drop. We asked, "You mean to tell us that your stock has dropped from $30.15 to $12.70 since Sept 20th on heavy volume and you don't know why?" He said, "YES". We asked, "What about the 3.35 million share equity offering (part of which is from selling holder, Northrop Grumman (NYSE: NOC))". He said, "We haven't even received comments back from the SEC on the offering yet"

As we've been reporting, some sources indicated the offering will get little support and some have suggested it might be pulled. We didn't get the feeling from the IR guy that it will be pulled, but one would have to think the company and the selling holders would consider it after such a dramatic drop. This is story we will continue to follow.

You May Also Be Interested In

• Chevron Close To A Deal To Expand Operations In Venezuela - WSJ
• Putin Said To Plan Ukraine Escalation, Seeing Talks Fruitless - Bloomberg
• Yen Weakens To 160 Per Dollar For First Time Since July 31 - Bloomberg