TransTechnology Losses Prompt Stock Selloff
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TransTechnology Corp. said it would report losses for both the fourth quarter and year that ended March 31, which prompted a selloff in the company’s stock.
After the announcement by TransTechnology, a diversified industrial and military products concern based in Sherman Oaks, its stock plummeted $2.125, to $7.625 a share, in New York Stock Exchange trading late last week. The stock closed Monday at $7.75 a share.
