Star Scientific Gets Smoked
Star Scientific (STSI) lost a third of its value in furious trading Monday after the tobacco company lost a patent case.
The Chester, Va., company said it will consider selling some or all of its tobacco-curing barns in the wake of a setback in its litigation against Reynolds (RAI).
Star also said it will appeal a ruling that found its tobacco-curing process patents "fatally indefinite."
Shares fell 56 cents to $1.14 as 11 million shares changed hands.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV