Cisco Shareholders Scramble for Sick Bags
If “air pockets” are to blame for Cisco’s weaker-than-expected outlook, then how shall we refer to the stock’s nosedive today? A sudden downdraft? Or, given its brutality, perhaps a squall line.
Cisco shares plummeted a gruesome 16.2 percent Thursday to close at $20.52–their biggest drop since summer of 1994. And the company lost more than $23 billion in market capitalization in the process.
Ugly.
