Egreetings Network Falls 6.7% as CEO Quits - TheStreet

Online card provider

Egreetings Network

(EGRT)

was down 6.7% in late afternoon after it announced the resignation of its CEO and the layoff of 34% of its staff.

The move came after the company posted a wider-than-expected third-quarter loss due to a slowdown in advertising. The company is down from a 52-week high of $16.