As investors scratch their heads at the recent bankruptcy of GT Advanced Technologies Inc (NASDAQ:GTAT), one analyst thinks he has the answer to the issue of why the firm surprised investors and declared Chapter 11 bankruptcy.
The stock of GT (NASDAQ:GTAT) dropped nearly 93 percent yesterday, falling from $10.98 to $0.83 in one day. Investors picking the bones of the stock have snapped it up, as the shares have risen nearly 100 percent in one day and are currently trading near $1.80.
GT Advanced Technologies Inc and Apple relationship
GT Advanced Technologies Inc (NASDAQ:GTAT) is a sapphire manufacturer who won a massive $578 million contract from...
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