"I would view the stock as significantly undervalued."
Sunday, November 16, 2008
Meet a major McClatchy shareholder who is taking it in the shorts
Meet Eugene H. Gardner, Jr., a partner at Gardner, Russo & Gardner. His company owns 5.2 million shares of McClatchy stock. Last year, Gardner peered into the future and decided to stick with MNI, betting the stock would improve. Here's what Gardner said in 2007:
When Gardner said MNI was "undervalued," it was hovering at $16.50 a share. Which means his company's MNI stock was worth over $80 million, if my figures are right. Today, MNI is well under $2 a share -- and could turn out to be worthless.
Heckuva move there, Eugene.