Posted: 6 month(s) and 3 days(s) ago   |   0 Comment(s)   |   Rating: 0 0
Posted by: ToddShriber

Ediets.com (DIET.NSDQ), a provider of online fitness programs, tumbled 48 cents, or 18.5%, to $2.12 today, making the stock the biggest loser on the Nasdaq. Volume was robust at five times the daily average.

There was no news to spark the sell-off, but I might guess that it was delayed reaction to a $600,000 private placement announced by Florida-based Ediets last week. Another guess, and probably a better one, would be Ediets fell victim to some profit taking today after gaining 41% yesterday.

Ediets is down 35% in the past 52 weeks and with $14.2 million in debt and no free cash, this could be a stock the bears tag with some aplomb. Try a biotech stock at a similar price if you want some real action.

For more on Ediets, go here: http://www.ediets.com

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