NEW YORK (
was a big loser in premarket trading on Monday, tumbling 4.81% to $21.76 after a
said the stock is worth just $15.
Shares of the Menlo Park, Calif.-based company had
recently thanks to a number of catalysts, including a new advertising platform.
The social networking phenomenon was also one of the most active premarket Nasdaq stocks on share volume of 965,572.
Shares of Apple slipped 2.15% to $685.01 as investors responded negatively to the company's announcement of 5 million iPhone 5 sales over the weekend. The eagerly anticipated smartphone hit retail stores on Friday.
The tech giant, which continues to
over a recent $1 billion jury verdict, was also one of the most active premarket Nasdaq stocks on share volume of 218,639.
, which reports its fourth-quarter results after market close on Thursday, fell 2.04% to $6.23. Analysts surveyed by
expect Micron to report a loss of 22 cents a share on revenue of $2.12 billion.
In a note released on Monday, Nomura Securities said that it remains cautious heading into Micron's earnings.
"Micron's stock tends to be 'penalized' more for PC weakness than it is 'rewarded' for flash memory strength," wrote Nomura analyst Romit Shah. "Until bothbusinesses are on the upswing, we would stay on the sideline."
shares were unchanged at $2.54 in premarket trading on share volume of 108,071.
--Written by James Rogers in New York.
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