Spreadtrum Communications Off Lows As Banks Defend Name

Spreadtrum Communications, Inc SPRD shares are well off their lows, down some 10% as Wall Street banks are defending the name. Earlier today, Muddy Waters put out a negative report on the company and shares plunged on the news. At last check, shares were off $1.30 to $11.65, a loss of 10.03%‎ on over 20 million shares, more than 10 times the average daily volume.