Nasdaq, S&P 500 Eye Weekly Wins As Bond Yields Retreat

NOVN 80 Day

Meanwhile, towards the bottom of the Nasdaq, today is Recon Technology, Ltd. (Nasdaq: RCON). The security is down 43.8% at $7.17 this afternoon, despite earlier surging to a three-year high of $17.50 after the company said its subsidiary, Beijing BHD Petroleum Technology Limited, signed two contracts with Sinopec's (SNP) North China E&P Company for a total of $5 million. However, the company's unprofitability and declining revenues seem to be weighing on shares. The equity is now pacing for it worst day on record, though the 140-day moving average seems to have stepped in to contain further losses. In the last nine months, RCON has added 717.4%, though.

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