Whats up with it ? Finviz.com and many others, fits here too. Meanwhile : So, was it at ~$150 recently ? Edit : Einstein. Decided to check live account. Shows a fall from $160 to $80. Nice, gonna check what happened.
They ($SNX) spun off a division and made it a separate, independent company. $CNXC "Under the terms of the separation, on December 1, 2020, stockholders who held SYNNEX common stock at the close of business on November 17, 2020—the Record Date—received a distribution of one Concentrix common share for every share of SYNNEX common stock held. No fractional shares of Concentrix were distributed." CNXC =$101.21 SNX=$80.94 So basically your original share of SNX ($160ish) is now worth $182.15 Obviously Wall Street liked the idea, look at the chart of Cocentrix. https://www.investing.com/equities/concentrix This oftentimes happens. It would be like owning one share of Amazon and them coming out one day and saying they are spinning of Amazon Web Services. They say.... "we are spinning off AWS and as of (some date) for every one share of Amazon you own, you will now also own 3 shares of AWS. Come that date, say AMZN is at $4000, it would drop to $1000 and the new AWS shares would each be worth $1000. You have 1 AMZN share and 3 AWS shares. So $4000 total. Even Steven. Thing is, oftentimes the new company as an independent operation, if its a good company, the stock of that company takes off. You'll hear the phrase "unlocking value".... this is what it means. When the parts of a company are worth more independently. This is exactly what happened in your example. Cocentrix took off from $80 to $101 because Wall Street obviously thinks its worth more than $80.
Thanks for reply. Yup, found out later that day. SNX loses 25% of revenue, but the price falls 50%,. Gonna stay away from this one, till next earnings. CNXC, cash flow flow up ~%450 since 2017, the reason of Wallstreet love is obvious then. Now, i kinda get it. Still don't understand tho, why some charting providers, when one selects chart of the last month/last 3/6 months, doesn't show that which happened. It gets delayed (?) Technical issues (?) Got my own paranoid theory about the reason for that : Most of those, who display wrong chart, are free to use, thus, the user base, doesn't need to know, about this, potentially, good long. In the other hand, probably, they don't look at such time frames in the first place, so no loss for the users, and only an insurance for those who pay those platforms, for the data to stay ,,delayed''. Just a fantasy guess.