3SOF

July 9, 2007:

Initial analysis for SMIT:

SMIT is a very small company, just $15.7 M market cap. Volume is low, there were 23,600 shares traded yesterday.

I'm just curious to what happened in point 1 on the chart below:

«On the other hand, Schmitt Industries (SMIT - Cramer's Take - Stockpickr) plunged 24.2% after income for the quarter ended May 31 fell 31.6% year over year to 13 cents a share, on 17.5% lower sales of $2.9 million. Oregon-based Schmitt, which makes computer-controlled balancing equipment, was trading at $8.49.»