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Waste Management Trashed After Stifel Downgrade

Courtesy of Benzinga.

Waste Management, Inc. (NYSE: WM) shares are trading lower by $3.00 (4 percent) at $76.28 in Wednesday’s session.

One day removed from making a new all-time-high and all-time-closing high ($79.28), the issue is in the red. The catalyst for the decline is a Stifel Nicolaus downgrade from Buy to Hold.

Waste Management’s much lower opening print of $77.88 has turned out to be only 11 cents from its high for the day at $77.99. So far, the follow through on the decline has taken the stock to $75.86 and is attempting to remain in the $76.00 handle. That low coincides with a pair of lows from Sept. 7 ($75.71) and Sept. 9 ($75.77).

Posted-In: Technicals Intraday Update Movers Trading Ideas


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