Toshiba stock has taken a serious beating over the last three months. Since Dec. 15, 2016, shares of Toshiba Corp. (OTCMKTS: TOSYY) have tanked 57.9% from $23.73 to $9.99 today (Wednesday, March 15).
The stock is down another 9% today after the Japanese conglomerate canceled its earnings announcement for the second time. This has widely been attributed to Toshiba's ongoing financial challenges with its nuclear business, Westinghouse Electric Co.
But Money Morning Technical Trading Specialist D.R. Barton doesn't recommend avoiding TOSYY stock altogether. In fact, he thinks investors should wait five to six weeks before buying shares of the company.
Here's Barton's recap of Toshiba's situation - and why you should "wait for the dust to settle"...