Stein Mart stock slides after dismal Wednesday earnings

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Stein Mart shares continued tumbling throughout Thursday after the Wednesday evening release of dismal first quarter results. With trading volume almost 30 times the average day, the price fell as low as $1, a level it hasn't seen since early 2009. Shares of the Jacksonville-based retailer (NASDAQ: SMRT) closed Thursday at $1.13, a 16 percent drop from the $1.35 opening price and down 33 percent from the previous day's close of $1.70. Things didn't improve once the trading day was over, with the...

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