By Jerry Kronenberg | Moomoo News
$Children's Place (PLCE.US)$ rallied strongly Wednesday as the troubled retailer rang up its fourth straight session of either rising or falling by more than 30% per day.
PLCE rose as much as 31% Wednesday to a $14.79 intraday high one day after falling 35.8% to a $10.51 intraday low.
The volatile trading began last Friday after management warned that the company’s Q4 results would look much worse than previous guidance had indicated.
Children’s Place – which runs more than 500 Children’s Place, Gymboree and other children’s clothing stores – added that it was seeking new financing, while also considering unspecified “strategic alternatives” if that fails.
The news sent the stock tumbling 36.7% last Friday before shares recovered 31% on Monday. PLCE then fell sharply again on Tuesday before rebounding strongly on Wednesday.
All in, the stock has traded as high as $17.09 and as low as $8.30 over just the past four sessions – a more than 100% swing.