2TheMart.com Stock Drops 24% in Price
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Continuing its roller-coaster ride, the stock of Irvine-based 2TheMart.com Inc. fell 24% Monday, or $3.75 a share, to $12.
At several points during the day, the stock traded at $19, but fell back each time. While the closing price Monday was far below its closing price of $21.50 Wednesday, the company is still valued at $240 million, even though it has no products or sales.
The stock rocketed up last week after the company announced that it would launch an online auction site.
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