UPDATE Rakon shares tumble to record low after guidance cut again

Tue, 12 Feb 2013

(Updates to show shares tumbled) By Paul McBeth Feb. 13 (BusinessDesk) – Shares of Rakon tumbled about 24 percent to a record low after the former local tech darling cut its annual earnings guidance for the second time since December, blaming increasing price competition in the smart device market. The stock fell 9 cents to 29 cents, slicing about $17 million off its market value to $55.4 million. They listed at $1.60in May 2007 and reached as high as $5.80 12 months later. The Auckland-based company expects earnings before interest, tax,...

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