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Chicken Soup For The Soul Entertainment Stock Drops To Nearly An All-Time Low

July 11, 2019 / Dade Hayes

On a day when the Dow Jones Industrial Average broke the 27,000-point barrier and most media and tech shares posted modest gains, Chicken Soup for the Soul Entertainment shares fell nearly 6% to close at $7.16. The stock price is close to an all-time low for the nearly two years since the streaming-oriented media company had its IPO in 2017. It has erased all of the gains from the spring, when the company swung a deal with Sony giving it control of Crackle, sending shares up to a 52-week high of $13.11. Over the past year, the share price has dropped 25%. Analysts contacted by Deadline were not concerned about the movement of the stock, noting the light trading volume (about half the normal level on Thursday) and also the modest float of a bit less than 3.2 million shares. The float is the number of shares available for public trading, once the stock controlled by insiders, employees and other stakeholders is removed from consideration.