Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: China Green Agriculture
So what: This follows a similar drop yesterday after there was a lawsuit filed against the company and allegations of securities fraud appeared. The stock hit a fresh 52-week low in trading this morning and has bounced slightly since then.
Now what: We warned yesterday that the lawsuit and allegations of securities fraud spelled trouble with a capital T. Traders agreed to push shares lower from the start this morning. I see no reason to own this stock with a cloud hanging over it right now.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
China Green Agriculture is a Motley Fool Global Gains selection. The Fool owns shares of China Green Agriculture. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.