Circuit City (CC) Beaten Down to a New 52-Week Low

Shares of Circuit City (NYSE: CC) have plummeted on the Company's lower-than-expected Q3 earnings results. Circuit City reported a Q3 adjusted loss of $0.64 and revenues of $2.96 billion. Both of these numbers are lower than Wall Streets expectations: a loss of $0.37 and revs of $3 billion.

Circuit City stock gapped lower to open today's trading session at $5.06. Shares of Circuit City quickly dipped lower, moving to a new 52-week low at $4.93. This drastic fall marked a more than 24% decline in the Company's stock price, which hasn't been at this level since 2002, when the Company's stock was beginning a four year up-trend.

A consistent downtrend has plagued Circuit Cit stock for all of 2007; shares are down about 73% year-to-date, giving up all the gains from the stocks four-year run-up since '03 in just a year-and-a-half.

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