Gish Biomedical Stock Off 20%
- Share via
SANTA ANA — Gish Biomedical Inc.’s stock fell 20% Wednesday after the manufacturer of disposable cardiovascular products said sales for its second quarter ending Dec. 31 would be “closer to $5 million rather than the $5.5 million projected by analysts.”
Gish’s stock, which is traded over-the-counter, closed at $9.875 a share, down $2.50.
The company said it was lowering the sales projection for the quarter because its distributors are reducing their product inventories in preparation for a weakening economy.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
