JNI Continues Sliding

Shares of storage-networking firm JNI (JNIC Quote) extended their recent slide on Monday, plunging 13% in afternoon trading.

The Beatings JNI's ugly November

JNI has been under pressure ever since Nov. 10, when the stock fell 35% on two negative stories: a report from Dow Jones Newswires that Sun Microsystems (SUNW Quote) was planning to phase out JNI's SBus interface in its servers, and a story on TheStreet.com questioning JNI's ability to succeed in a commodity industry with increasing competition.

The company's subsequent vehement denial of the substance of those reports, echoed by some of the brokerages covering the stock, has done nothing to stem the tide of selling. JNI has lost more than 50% since Nov. 10.