Friday, February 6, 2009

What's with the heavy MNI activity on the market?... the number of shares traded Friday was more than double the normal volume

McClatchy (MNI) shares closed at 71 cents a share Friday, unchanged from Thursday's close. But check out the extremely heavy volume -- by the end of the day 985,000 shares had changed hands. The volume on an average day? Just 443,000 shares.


Anonymous said...

Question. I saw the volume but the stock did not go down. Why. I wish understood this better can somebody help?

Anonymous said...

Because there were enough suckers -- I mean, "willing buyers" -- to keep the price up.

Anonymous said...

The market cap this morning was 59.45 it closed at 58.62. So didn't they really lose?

Anonymous said...

Pruitt says, “We'll experiment with paid content online, but you lose...” Good luck with that.
Pruitt: "We'll experiment with paid content online, but..."
..most experiments show that you lose more online revenue than you gain per subscriber."

Anonymous said...

“Pruitt likes to refer to McClatchy as a "hybrid" company.”

Inbred company is more like it.

Anonymous said...

Several large institutional investors adjusted their portfolios. Most sold positions in McClatchy but one global outfit bought shares in just about every death watch company on the exchange.

Anonymous said...


Anonymous said...

Go get 'em, Tiger, I couldn’t agree more.
Lexington Guild responds to pension freeze
February 5, 2009

Brandon Ortiz, area vice president, Lexington Newspaper Guild unit:

Today's actions also further highlight the need for major cuts in executive compensation at McClatchy's corporate headquarters. Simply declining undeserved bonuses or freezing bloated pay is not adequate, and is nowhere near the sacrifices rank-and-file employees have made…
More at :

Anonymous said...

I think this was my favorite part:

If McClatchy wants to survive, it must realize that its employees are not adversaries, but partners. Its employees are not cogs in a machine that can be discarded on a whim, but people with families who have hopes and dreams. McClatchy's refusal to discuss reasonable alternatives with its workers is the ultimate sign of disrespect.

I am very proud to be from the Lex H-L right now! Thanks for the link Archer.

Kevin Gregory said...

I posted this on another thread, too:

The Lexington Guild broke the story of McClatchy finally selling their corporate jet last year.