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THE REAL MOST ACTIVE Nasdaq Starts 2005 With Higher-Volume Tumble.(B)
Byline: KATHARINE STALTER
The Nasdaq tumbled 1.1% Monday as volume swelled from its pre-New Year's level.
Angiodynamics dropped 0.76 to 21.39 in seven times typical trading. The maker of catheters and other surgical gear came public in May at 11 and hit an intraday high Monday before reversing. Its earnings beat First Call's consensus estimates the past three quarters.
Bermuda-based *Knightsbridge Tankers tanked 3.88, or 12%, to close at 29.55 in nearly six times average volume. The petroleum shipper has closed below its 50-day moving average for six straight sessions, and is now just above its 200-day.
Netgear slumped 1.45 to 16.71 in triple normal trading. The maker of networking equipment tried to break out early in the session but reversed hard. IBD's New America featured the firm Thursday.
Medical laser maker Palomar Medical Technologies tumbled 1.72 to 24.35 in more than twice average volume. The stock cleared a 2 1/2 month base last week before diving back in heavy volume. The firm had triple-digit profit growth the past three quarters. Analysts expect ...
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