McClatchy (MNI) shares closed at 59 cents a share Wednesday, up 20.4 percent from Tuesday's close. For comparison, the Dow was up 2 percent Wednesday. But, today's MNI volume was just 310,000 shares, far less than the average volume of 538,000, so don't read too much into today's jump.
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6 comments:
After The Bell Tuesday: Somebody Wants Out Of McClatchy
Fitz: So who’s dumping all that The McClatchy Co. (NYSE: MNI) stock?
Nobody was fessing up to it at the SEC on Tuesday night. In fact the only document filed there Tuesday was McClatchy’s annual meeting proxy, which documents the doleful decline of MNI in all kinds of ways.
And his [Pruitt] reward? A fast $42,525. Don’t spend it all in one place.
@ Fitz & Jen
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There is some Pruitt stock option and SARs information for those who know the lingo, to read if interested.
Look at what the Star-Telegram is up to. Thursday is the debut of DFW.com Ink Edition, the print product that publisher Gary Wortel touted in his most recent layoff memo as hopeful news for the ST's future. Here's the Web version of its content:
http://www.dfw.com/203/story/113178.html
MNI stock has been under $1 for 54 days. Does that matter these days? It seems as the rule change they ought to be retroactive for other delisted companies.
Nobody was fessing up to it at the SEC on Tuesday night.
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They have several days to file a report on the trade, but only if they are a 5% shareholder or an insider.
What have seen over the past few days is window dressing for Mutual Funds. Actively managed funds adjust their portfolios to make their holdings appear palatable and Index/Sector funds adjust their percentages of holdings to be in line with their prospectus.
Just saw this in print downtown. Only one box has it and there was only three in there. This is a complete joke. If I were the Kimbell I would pull that back page ad quickly. "Three people we would like to Eff this week"? Sex talk? I cannot believe they or many of the other businesses woul want ot be associated with this. Way to sink money into a piece that no one will read. Congrats on the launch. I will bet this will be gone in 2 months.
If someone were dumping stock, i,e putting out a sell order then the stock price would fall.
For the stock price to go up it would be the result of a buy order..
So the question isnt who is dumping stock, the question is who is buying stock in large quantities almost weekly now...
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