TearLab (TEAR) Stabilizes After Massive 2-Day Slide
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TearLab Corporation (Nasdaq: TEAR) declined on Friday, extending losses that began Thursday after the company was featured in an article in The StreetSweeper.org.
The Sweeper article featured a number of quotes from doctors criticizing the company's diagnostic test for dry eye disease. The article also criticized analysts for "urging investors to buy the pricey stock in spite of its nosebleed multiples."
So far, the response from sell-side analysts has been relatively muted, but given a 5-day 18% decline in the stock, they are unlikely to remain silent for too long.
Meanwhile, shares recovered slightly, stabilizing near $12 as volume thinned heading into Friday's close.
The Sweeper article featured a number of quotes from doctors criticizing the company's diagnostic test for dry eye disease. The article also criticized analysts for "urging investors to buy the pricey stock in spite of its nosebleed multiples."
So far, the response from sell-side analysts has been relatively muted, but given a 5-day 18% decline in the stock, they are unlikely to remain silent for too long.
Meanwhile, shares recovered slightly, stabilizing near $12 as volume thinned heading into Friday's close.
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