Red Hat Drops After-Hours

Last month, I listed eleven stocks to sell right now. One of the eleven was Red Hat ($RHT).

At the time, Red Hat was going for $55.33 which I thought was very over-priced. The stock closed today at $49.97. But after the close, the company reported earnings of 36 cents per share which was six cents more than expectations. Revenue, however, fell short of expectations.

In after-hours trading, the stock was as low as $42.80 although it’s currently down 5.4% to $47.28 per share.

Posted by on March 27th, 2013 at 5:37 pm

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