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Acclaim Shares Savaged By Wall Street After Earnings Announcement
Investors reacted swiftly to Acclaim's poor earnings report yesterday, selling off shares and causing the company's market value to plunge by over 40%.
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Company shares, which closed at $1.26 yesterday, are currently trading at 70 cents, a 52-week low. Trading volume was very high as well -- about eight times the company's normal volume. Yesterday Acclaim released its fiscal 2002 results, posting a large Q4 loss that was far worse than anaylsts had expected.
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