Veeco Instruments Plunging (VECO)

eeco Instruments Inc. (NASDAQ: VECO) is plunging, down more than 7% on heavy volume. The stock has traded more than 3.3 million shares today, whereas average volume is just over 2 million shares. The stock was downgraded yesterday by Citigroup, which sent the shares down a whopping 16%. It also hurt competitor Aixtron (NASDAQ: AIXG), and for now, it looks like the rally in LED stocks has flickered out. An article at TheStreet.com (NASDAQ: TSCM) lays out an excellent case on why the sell off was overdone. Disclosure: no position in VECO