Viacom Downgrade Sends Stock To 7-Year Low

Viacom, Inc. VIA shares are trading lower by $1.30 (5 percent) at $34.11 in Monday's session.

The catalyst for the decline is a downgrade to a Sell at Citigroup. The stock is now lower by 30 percent since peaking in April at $49.00.

Viacom's lower opening print of $35.00 stands as the high for the session as of 11:35 a.m. EST. That high was below its former low for the move from Friday at $35.30.

The follow-through on the decline took the stock to $33.65, but rebounded back into the $34.00 handle. It should be noted the stock bottomed in this area back in Aug. 2010, when it made a low at $34.09, that hadn't been revisited until today.