Q: Celestica had a nice day yesterday on upgrades - and is now down over 10% today. What gives? Surely the CEO selling some of his shares doesn't cause the stock to drop by more than 10% in a day?
5i Research Answer:
We have posted comments on CLS today. The stock is up 39% YTD, and up $29/share for Tuesday/Wednesday combined. With today's drop it is still higher than it was on Monday. RBC raised its target price yesterday. There is no other news.