Shares of Viant (Nasdaq: VIAN), which provides e-commerce consulting, plummeted more than 13 percent, falling 4-5/8 to 30-1/2 on Monday on volume of just 90,500 shares. Viant is usually a thinly traded stock, and Monday was a prime example of how quickly and brutally a stock can fall on small volume when the sellers outnumber the buyers.
There was no news to move the stock. Viant simply got dragged down because the Internet sector got shellacked. Viant fell despite the fact that James Cramer, the well-known pundit for TheStreet.com who also works as a hedge-fund manager, said he liked the stock during a chat on Yahoo! on Sunday.
While talking about the merits of Viant, Cramer, who said Viant and Scient are the e-commerce plays he likes, also told investors to beware of the stock’s thin trading. The only way for frustrated investors to get over what happened on Monday is to convince themselves that it’s also possible for Viant to gain 4-5/8 on volume of 90,500 shares.