why is GTAT rising

What was once a small-cap darling had a fall from grace this week, as sapphire producer GT Advanced Technologies (Nasdaq: GTAT) stock fell 90% on a Chapter 11 bankruptcy filing.

GTAT made headlines in October 2013 when its subsidiary entered into an agreement that would make GTAT an exclusive supplier of sapphire material to Apple Inc.

But things began to unravel, all the way until the company declared bankruptcy. Here are the takeaways…