Rumor Sends AST Research Shares Plummeting by 17%
IRVINE —
Shares of AST Research Inc. fell as much as 17% Wednesday amid rumors that the personal computer maker may have to restate its second-quarter earnings, traders and analysts said.
But Emory Epperson, company spokesman, said AST has no intention of restating earnings for the second fiscal quarter or for any other quarter. He said he did not know how the rumor got started.
AST stock closed at $19.50 on Nasdaq, down $2.125 a share on Wednesday. The stock was trading as low as $18 a share earlier in the day.
