Seeking Alpha

500.com continues slide as Deutsche Bank downgrades to Sell

  • 500.com (WBAI -9.8%) shares continue to decline as lead underwriter Deutsche Bank downgrades the recent high-flyer to Sell with a $26 PT.
  • The firm thinks shares have advanced well beyond the realities of company's growth as World Cup fever overflows.
  • The PT implies a decline of 41.4% from yesterday's close, a rare view in the raging tech and IPO markets.
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