Wednesday, January 7, 2009

McClatchy shares fall 18 percent, major holder dumps 77,700 shares in a single transaction

Fitz and Jen report somebody unloaded 77,700 shares of MNI in a single transaction Wednesday:
Just as The McClatchy Co. (NYSE: MNI) led the sector up in recent sessions -- sparking speculation about buyers -- so dove the farthest Wednesday. MNI fell 17.78% on a 32-cent loss to $1.48. Once again trading in MNI was heavy, with the biggest single volume maker -- a 77,700-share transaction -- taking the stock price from its opening of $1.80 to its intraday low of $1.30 in the opening minutes.
Who sold the 77,700 shares? Most likely an institutional holder. If you have more information leave it in comments.

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