Diamond Foods (DMND) moves 6.8% lower premarket after Jefferies calls the company "overvalued"...

|About: Diamond Foods, Inc. (DMND)|By:, SA News Editor

Diamond Foods (DMND) moves 6.8% lower premarket after Jefferies calls the company "overvalued" and cuts its rating to Underperform. After sizing up the restated financials from Diamond covering the last few years, Jefferies finds the downside scenario calls for an abrupt fall to a level as low as $3 a share.