Home / Market Movers / Services Sector Feels 3.1% Slide in Shares of Scholastic Corporation (SCHL) at Midday on September 23

Services Sector Feels 3.1% Slide in Shares of Scholastic Corporation (SCHL) at Midday on September 23

Scholastic Corporation (SCHL) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of SCHL have fallen 3.1% to $38.1 after closing the day prior at $39.32. So far, the stock has traded as high as $39.47 and as low as $37.9. Today’s decline has come with about 54,020 shares changing hands, compared to an average 30-day volume of 96,516 for Scholastic Corporation. The price is currently below the 30-day volume weighted average price of $38.19 for SCHL.

The share depreciation gives the company a market capitalization of $1.35 billion based upon 34.31 million shares outstanding. It also means that SCHL has a price-to-book ratio of 1.07:1.

In the past 52 weeks, shares of SCHL have traded as low as $30.34 and as high as $44.24. Technical traders will take note that at $38.1, shares of SCHL are trading above their 200-day MA at $37.73 and below their 50-day MA at $40.31. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is SCHL?

Scholastic Corp is a children's publishing, education and media company. The Company also provides educational technology products, related services and children's media. The company’s 8900 employees are led by CEO Richard Robinson from the corporate headquarters at 557 Broadway in New York, NY.

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