Posted by: youngragingbull | February 20, 2013

Garmin stock slides 10%, triggers circuit breaker

Shares of Garmin Ltd.  sank over 10% on Wednesday, triggering Nasdaq’s short-sale circuit breakers which are designed to shield stocks from being manipulated by short sellers.

Garmin stock came under pressure after the navigation equipment company reported a double-digit drop in fourth-quarter profit to 66 cents a share which it blamed on weak sales.

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