Who said it has to make sense?
After falling steadily for the past three weeks and winding up Monday as the leading loser of Orange County's 100 largest publicly traded companies, Distributed Logic bounced back to lead county-based list companies that gained in value Tuesday as the stock market continued its seesaw performance.
At the same time, Petrominerals, the Stanton-based oil exploration company that has been one of the few county-based companies to gained throughout the market's three-week slide, led the county-based losers list Tuesday.
Owners of stock in Distributed Logic, an Anaheim-based computer parts maker, say their shares hit an all-time low Monday of $2.25 per share, down 40% from $3.75 per share Friday. On Tuesday, however, the stock picked up 22.2%, to end the day at $2.75 a share.
Meanwhile, Petrominerals shares, which began the slide on Oct. 2 at $1.12 and finished Monday at $1.37, dropped 27.3% Tuesday, to close the day at $1 per share, the stock's lowest point in a year.
Of the county's 100 largest publicly traded companies, 45 posted losses Tuesday, 34 gained value and 21 remained unchanged.
The average per share value for the Orange County stocks dropped to a three-week low of $7.06, from Monday's $7.11.