Tuesday, December 23, 2008

McClatchy stock hits all time low of 65 cents a share, before ending the day at 75 cents a share (updated)

McClatchy (MNI) shares hit an all time low of 65 cents a share Tuesday, before ending the day at 75 cents a share.

McClatchy's stock has been pummelled the past 5 days, dropping more than 55 percent. At this low level, McClatchy faces the prospect of being delisted from the New York Stock Exchange.

UPDATE: From comments:
"... good bye Bee."


8 comments:

Anonymous said...

.68 cents @ 1PM. Bottom appears to be .50 with a large block on the bid.

Anonymous said...

How come this stock drop isn't being reported by E&P or Romenesko? Everybody on Christmas break?

McClatchy Watch said...

Anonymous 10:36 -- It's the dinosaur media -- maybe they're going Christmas shopping. Or on a long lunch. Or updating resumes.

Anonymous said...

There is something about the one dollar mark that is a game changer for every company. Coverage, publicity, and even acknowledgment comes to a screeching halt while attention goes elsewhere. I don't know if it is a psychological thing or what, but, one dollar is a kiss of death when it comes to the markets. I have been watching it happen to companies for over 25 years. No one is exempt.

Anonymous said...

Daily copy price of one of Mclatchy's large metro editions; or, a share of stock -- which deadwood has more value?

Anonymous said...

McClatchy has beat the liberal line so long it has made them deaf to their former subscribers. Why should a conservative buy, read the Sacramento Bee, and get upset, when they can read it online for free and get upset? The Bee's response to the economic situation was to change the web site and make it non-user friendly. That in turn chased many of the conservative comments away. On the old web site, the comments never matched the tone of the letters the Bee chose to print in their hard copy. Oh well, I guess journalism schools don't have a class in economics. All of the young liberals had better start reading and buying a lot of papers, or it's good bye Bee.

Anonymous said...

Trading at .60 after hours.

Archer05 said...

When Melanie Sill has a pink slip from the Sacramento Bee, then the unethical journalist cleansing will be complete for me. I first witnessed her unprofessional journalism in NC.

I have followed her unhinged liberal bias for a couple of years. If I remember correctly, she was greatly disliked after the Duke case. McClatchy gave her a promotion, and sent her to the Bee. A sound business decision like that has gotten them what? Well, what they deserve IMO.