CTS price drop explanation

The company looks to have a pretty shaky balance sheet at this point. It was aggressively acquiring companies during high tech valuations and now is situated with a lot of debt that is due relatively quickly.

The company needs to start paying down debt and strengthen the balance sheet before it resumes acquisitions.

It looks relatively cheap here to be honest. There's no doubt that stocks, especially ones with poor debt situations, have been impacted severely in this environment. Look no further than even a regulated utility like Algonquin.

Wouldn't expect a short term turnaround from this company, and I wouldn't expect $10+ highs to be achieved anytime soon either. But, there's likely room for some upside at these price levels.