Vince's Stock Loses Two-thirds Of Its Value Amid 'substantial Doubt' About Its Prospects

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of Vince Holding Corp. plummeted 66% toward a record low in active afternoon trade Tuesday, less than a week after the clothing and accessories brand said it had "substantial doubt" about its ability to continue as a going concern. The stock was briefly halted earlier for volatility. Volume in the stock, which was headed for its biggest-ever one-day percentage selloff, jumped to 9.2 million shares, which was nearly nine times the full-day average. The company was not immediately available for comment. The company disclosed late Friday in its annual report, which had been delayed by two weeks, said there is substantial doubt among its lenders regarding additional financing options and actions needed to improve the capital structure and contain costs. The stock closed Monday below $1 (95 cents) for the first time since it went public on Nov. 22, 2013, and was recently changing hands at 33 cents.

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