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MarchFirst Hits New Low, Falling 28.6% After It's Dropped From Index

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hit an all-time low of $1.22 and was down 28.6% in early afternoon on word that it would be dropped from the

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S&P MidCap 400

index at the end of trading today. The beleaguered company is down from a 52-week high of $81.13. It tumbled about 50% a week ago after it

revealed in a regulatory filing that it needed more financing by the end of the year to continue operating.