At this price McClatchy is in jeopardy of being barred from floor trading. The NYSE requires stocks traded on the floor to maintain a price above $1.05. Companies that can't maintain that average closing price over a 30-day period can be dropped. Which has already happened this year to Sun-Times Media Group, the Journal Register company, and GateHouse Media.
Fitz and Jen note somebody dumped 206,500 shares just before closing:
The closing price of $1.05 was a new all-time low, thanks to a swoon of 44 cents, or 29.5%. Investors unloaded furiously, including a lot of 206,500 shares sold off 25 minutes before the closing bell. Trading volume of 1.04 million shares was more than twice normal.
There was no particular market-moving news about MNI, although the syndicated Motley Fool column mentioned the stock in the same paragraph with the words “you'll likely see more than a few newspapers fold in the not-too-distant future.”