DOGZ - Dogness International Sheds over 50% in sudden slide

Dogness International Corporation (NASDAQ:DOGZ -47.5%) fell fast in Friday’s trading session, losing nearly two-thirds of its value at midday lows while trading volume spiked.  The little-followed, China-based stock is a developer and manufacturer of private label pet products and touts a presence in the U.S. via PetSmart, Petco, and Chewy.  There is no immediately apparent catalyst for the crash and, in fact, the stock was recently the subject of a positive “sponsored” research note from Argus. “The company has established a record of product innovation and is well positioned, in our view, for long-term growth due to its fully integrated manufacturing chain,” the firm wrote. “It also has established commercial infrastructure in its core China market as well as the United States market. Over the long-term, we expect Dogness to benefit from the high level of growth experienced by the broader industry and the recession-resistant nature of the pet industry.”

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Dogness International Sheds over 50% in sudden slide