Jamba’s stock drops to new low

Shares of Jamba Inc. fell to their lowest level ever after the owner of Jamba Juice smoothie stores reduced the number of outlets it planned to open this year, citing “challenging economic conditions.”

Jamba stock declined 21 cents, or 8.4%, to $2.28, its lowest price since the company went public in June 2005. The stock has lost 38% this year.

The Emeryville, Calif.-based company said it planned to open 45 to 55 company-owned stores and 35 to 45 franchised stores this year. Previously, it said it would open 55 to 65 company-owned stores this year.