Wednesday, February 4, 2009

Gannett stock hits all-time low on Tuesday...

Gannett stock hit an all-time low Tuesday. Will McClatchy, trading at just pennies above its all-time low, set a new all-time low this week?

1 comment:

Archer05 said...

I try to watch the newspaper industry in general because the problems are common. There was one bit of news at Gannett today. Way back when, McClatchy set a firewall stock price at $5. The cuts and steps they took did not stop the slide, but the excerpt below explains the importance of that $5 mark.
Gannett's stock has just closed at $4.96 a share, a critical level that could spur mutual funds and other big investors to dump it from their portfolios, risking further decline. Such institutional investors own most of the shares, and are[ prohibited by their charters from holding stock worth less than $5.]