CHS shares plunge to below $3

Shares of Franklin, Tenn.-based Community Health Systems tumbled 7.8 percent on Oct. 2 to close at $2.96.

The hospital chain's stock price traded as low as $2.93 on Oct. 2 after closing Oct. 1 at $3.21 per share. Over the past year, CHS shares have traded between $2.66 and $7.86.

CHS saw its net loss shrink in the second quarter of 2018 as the company continued to refine its hospital portfolio. The company is using proceeds from the hospital divestitures to pay down its debt load.

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