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Dense-Pac Micro Stock Continues to Slide

August 11, 2000|Times Wire Services

Dense-Pac Microsystems Inc. shares moved lower again Thursday after the one analyst who covers the company lowered his rating.

The Garden Grove company's stock, which tumbled more than 30% Wednesday, fell nearly 20%, or $1.31, on Thursday to close at $5.31 in Nasdaq trading.

The first-day sell-off came after the company, which builds computer memory systems, warned that a shortage of some computer chips will hurt business in the current quarter.

The shares continued to tumble Thursday after analyst Eric Gomberg of Thomas Weisel Partners cut his rating on the stock to "market perform" from "buy."

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