TXIC dropping quite a bit, but why?

[ajaxunos]

Hey, I'm kinda new to investing and all. I put some money in TXIC around 1 week ago since everything about the company seemed to be improving. Within a day it started to go down. I wasn't worried at all, but 3 days later now, it has continued to go down dropping around a total of 20% since I bought it and it has only been like a week.

Any input would be so helpful!

Was it a good buy in the first place? and why is this stock plummeting? I did notice that several other auto part manufacturers are taking a hit too, but I'm having trouble finding why.

[AletheaHar]

even though it's not what i want to hear. I think i'm gonna do what yah say. Wait for a bounce and pull out.
I appreciate the info.

[AllaGraima]

It's a little over sold right now so I expect a bounce to re-test the 50 day MA at some point but if it breaks below the 7.60 mark I wouldn't wait for the bounce.

I would like a second opinion on this one though so someone else post up if they agree with me or not.

[Aminahony]

haha. I'm not much into taking chances. I'm playing with a large percentage of my money, mainly because I only have a little. haha. I'm still in highschool though so I haven't earned much yet.