Tuesday, January 13, 2009

McClatchy shares close at $1.17 a share, down 3% on the day... MNI returning to $1 a share?

McClatchy (MNI) shares closed at $1.17 a share Tuesday, down 3.3% from Monday's close. After several days of upward movement, I'm wondering if McClatchy has peaked and is searching for its new bottom.

Experienced traders have left comments on this blog explaining that MNI's recent price increase is due to short sellers covering. How much longer can that last? Yesterday in comments was this answer: not much longer.
"... when the stock is driven up by covering and whatever size of lot is unloaded there is still the little matter of of sellers out numbering buyers over 2 to 1 to contend with. MNI having no floor (support level) has no hope of anyone even speculating that they can turn it around, so any rise in price that you see going forward will most certainly be short covering.

The next short interest release in a couple of days and the one following that in 2 weeks should be very telling."

Today's close puts MNI barely above $1 a share. With a slight decrease, MNI could easily dip under $1 a share. Delisting will become a serious threat if MNI averages under $1 a share for 30 days. So stay tuned.
Follow McClatchy Watch on Twitter


Anonymous said...

After begging for votes I see you came in third place total of 980 votes. WOW. Having followed this blog for several months no wonder only 980 votes. You get an avg of about 10 post a day from different bloggers with the same hate and garbage throwers. It is either garbage about McClatchy or Obama you can gather. Most all the postings you do come from other sources not from employees at McClatchy.

You use the McClatchy name in your blog but have no regard for the thousands of employees that earn their living there. If you hate McClatchy so much get your own name. You never have one postive thing to say about anything they do. You just can't wait until they fail as you must have at McClatchy.

One thing you do for me each day is a good laugh knowing you will have to put up with Obama and all his friends for 4 years.

You'll be left with Joe the Plumber. Wow.

Anonymous said...

If you are representative of the typical McClatchy employee, it is no wonder that none have any regard for you.

As far as your complaint about having anything positive to say about those scum, they would have to do something positive to make it worthy of mention. Contempt, hatred and lies are what they peddle, it is no surprise that is what they receive in return. I say this as a proud, former McClatchy employee who is marveling at your pain. You've earned it.

Anonymous said...

3:53 Yep the key word is FORMER. Some make a VERY nice living...eat your heart out former employee. While all the rest draw a nice paycheck.

Post all you want I won't be reading a bunch of losers. I' m out of here.

Yea MClatchy keep those paychecks coming. The cream of the crop always survive.

Anonymous said...

Anon. 3:21 PM
I know people that lost their jobs at a McClatchy newspaper. They sound nothing like you. They take some of the blame for their situation for not being more watchful of business trends. This downturn in the media did not happen overnight. They certainly blame corporate McClatchy for [their words] “Raping the Company.”

They place some blame on the college that took their money for journalism classes while not telling them their career choice was dicey. They are of course disappointed, but none are hatefully bitter at the world in general.

You have not yet grasp all the reasons no one wants your product. Good luck in your new career choice.

Anonymous said...

WOW. Having followed this blog for several months no wonder only 980 votes.
WOW After following this blog for several months your stupid ass still can't address a topic. Just more trolling. Is this an addiction?

Anonymous said...

Me thinks the lady doth protest too much.

Funny, when people complain like this, as Anon:3:53 alluded to, they never do get around to just how McClatchy contributes to an un-bias paper.