Stock Market Trends: Arthrocare Blows Up

By: The Correct Call Monday, July 21, 2008 2:26 PM

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Shares of Arthrocare (ARTC) are getting demolished to the tune of 39% after it said it would have to restate results due to faulty sales calculations. The company said it could lower reported revenues by up to $37 million. Operating income will also be reduced, but the company didn’t give any figures. This is just what Wall Street hates: uncertainty. This is an unmitigated disaster for the stock and will likely not rebound anytime soon.

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