Why Shares of Cadiz Fell on Monday

Shares of water company Cadiz (NASDAQ:CDZI) were down by as much as 17.7% Monday as a sell-off in the company’s normally stable stock continued. Shares of the infrastructure stock closed the session off by 8.5%. 

So what

The biggest news of the day was that management said there was no news. Cadiz’s shares started falling suddenly last Monday. Today, management issued a statement in response to the slide that said in part, “The Company reports that there have been no new material developments nor pending announcements concerning its business operations contributing to market activity.”

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