tsla

2 Stocks Hitting Record Lows Today

More bear notes could come through for WTRH and CNDT

Aug 9, 2019 at 2:36 PM
facebook X logo linkedin


Stocks are trading lower today on renewed U.S.-China trade tensions. Among individual names making notable moves are food delivery firm Waitr Holdings Inc (NASDAQ:WTRH) and Xerox spinoff Conduent Inc (NYSE:CNDT). Here's a quick look at what's moving the shares of WTRH and CNDT.

Piper Jaffray Downgrades Waitr Stock

After being halted several times throughout the session, Waitr stock was most recently seen trading down 54.4% at $1.71, earlier tagging a record low $1.31. The shares are headed for their worst day ever on news founder and CEO Chris Meaux is retiring, with Adam Price, the company's former chief operating officer, taking over the top spot. Additionally, the firm is exploring options -- including a potential sale -- after a big second-quarter miss, and lowered its full-year sales forecast.

A round of bear notes is only exacerbating headwinds on the stock, with Piper Jaffray downgrading WTRH to "neutral" from "overweight," and joining at least three other brokerages in cutting their price targets on the equity. More negative analyst notes could be on the way, considering all five brokerages called Waitr a "buy" prior to today, and the average 12-month price target sits all the way up at $14.33.

Conduent Suspends CEO Search

Conduent shares tagged an all-time low of $5.27 earlier, and were last seen 28.4% lower at $6.20. The selling was sparked by news the company is suspending its CEO search until the conclusion of a strategic and operational review. The firm also unveiled a $1.07 billion write-down, and said it expects full-year revenue to decline more than previously expected.

Price-target cuts have come through from Citigroup (to $9) and Cowen and Company (to $8), but analysts were already bearish on a stock that was down 18.5% heading into today's trading. Four of five brokerages in coverage call CNDT stock a "hold," but with the consensus 12-month target price perched at $13.50, more downward revisions could come down the pike.
 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.