Chip Stock Marvell Dives In Big Volume On Probe News

By | September 11, 2015

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Bermuda-based chipmaker Marvell Technology Group (MRVL) belly-flopped Friday on Wall Street after disclosing Thursday a potential accounting error that may have fudged already depressed Q2 revenue to the tune of 7% to 8%. The company’s senior managers are now under the investigatory lens. Marvell Technology stock tumbled to a nearly three-year low after the Thursday disclosure. Shares were trading down about 17% from Thursday’s close, near 9 in Scalper1 News

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