This blog is mainly about the spectacular train wreck at The Sacramento Bee and its parent company, the McClatchy Company. But I also post about current events, the Iraq and Afghanistan wars, politics, anything else that grabs my attention. Take a look around this blog, hope you enjoy it.
Thursday, July 16, 2009
McClatchy shares fall 25% on Thursday
McClatchy (MNI) shares closed at 42 cents a share, down 25% from yesterday's close. By contrast, the Dow was up one percent on Thursday. . . .
19 comments:
Anonymous
said...
Now you see it, now you don't. Magical Gannett bump is gone. Back to reality, MNI.
MNI's 52 week low is .35 cents so does anyone feel it can go lower than this? I'm thinking of buying up MNI Friday @ .40 cents and even if it only goes up by .10 cents, I can stand to make some quick money.
MNI's 52 week low is .35 cents so does anyone feel it can go lower than this? I'm thinking of buying up MNI Friday @ .40 cents and even if it only goes up by .10 cents, I can stand to make some quick money. ===
The low is .35 but it never traded at that level. Yes it can and will go lower as the value is somewhere between .18 and .33 cents.
Do yourself a favor and stay away from stocks like this. What you think you can make in a quick and easy manner is in reality eaten up with higher commissions, exchange fees, taxes etc. Unless of course you're just learning to trade and have money to spend on the experience. You won't make money, but you'll learn the pitfalls the hard way.
Executions are unreliable as your brokerage firm will hold the trade for their take, and you have specialists working against you, trying to make the money back that they have had to swallow.
Trading is a great way to make a living. Trading penny stocks is a great way to make sure you are never capable of trading for a living.
Gannett newspapers reported a 2Q profit, so maybe McClatchy isn't that bad come Tuesday's earnings.
Gannett reported a 2Q profit based on special items and revenue declines of 32%. That isn't a good earnings report even if their CFO did put a dress on it.
Wasn't it yesterdeay that you reported that McClatchy stock had gone up. I know that's a long tine ago, but it really sticks is my mind that you reported that.
“I try to treat each client as a personal friend. I am an advocate for my clients and act accordingly. I am a professional and attempt to maintain the highest professional and ethical standards.”
Yes, hindsite is 20/20 but MAN, I should have stuck to my gut feeling on this one and I would be at least $2,000 richer this morning. McClatchy peaked at .90 cents/share so far today. I should have just stuck with my game plan.
19 comments:
Now you see it, now you don't. Magical Gannett bump is gone. Back to reality, MNI.
25% is normally considered a rather large hit!
However if the stock was trading at say .50 cent (for all you rappers out there), a 25% hit would bring the price to .3725 cents.
But isn’t the better question, how the heck could Pru and his cadre of geniuses ever let the stock breach the $5 firewall and get to .50 cent?
It's never going to get back to the level to avoid NYSE delisting. Never. Ever. Ever.
OTC here MNI comes.
"Blue Horseshoe loves MNI"
"It's going to the moon"
"When it reaches .37 cents, buy it all"
"Greed is good"
And good old pru cashed out long ago when the stock was trading at...what?
Good old profit taking.
Bets on next Tuesday? Up 40% or down 95%?
Cheap stock...lot's of room for short term profits with this much volatility. does anyone Does anyone doubt MNI's destiny?
Kind of sucks when short sellers cover and their is nothing holding up the floor.
MNI's 52 week low is .35 cents so does anyone feel it can go lower than this? I'm thinking of buying up MNI Friday @ .40 cents and even if it only goes up by .10 cents, I can stand to make some quick money.
You might get lucky. Try lotto. Sooner or later ( probably sooner) this turkey tanks.
Gannett newspapers reported a 2Q profit, so maybe McClatchy isn't that bad come Tuesday's earnings.
A good earnings report Tuesday for McClatchy or announcing Gary Pruitt is fired would most likely send the stock north!
MNI's 52 week low is .35 cents so does anyone feel it can go lower than this? I'm thinking of buying up MNI Friday @ .40 cents and even if it only goes up by .10 cents, I can stand to make some quick money.
===
The low is .35 but it never traded at that level. Yes it can and will go lower as the value is somewhere between .18 and .33 cents.
Do yourself a favor and stay away from stocks like this. What you think you can make in a quick and easy manner is in reality eaten up with higher commissions, exchange fees, taxes etc. Unless of course you're just learning to trade and have money to spend on the experience. You won't make money, but you'll learn the pitfalls the hard way.
Executions are unreliable as your brokerage firm will hold the trade for their take, and you have specialists working against you, trying to make the money back that they have had to swallow.
Trading is a great way to make a living. Trading penny stocks is a great way to make sure you are never capable of trading for a living.
Gannett newspapers reported a 2Q profit, so maybe McClatchy isn't that bad come Tuesday's earnings.
Gannett reported a 2Q profit based on special items and revenue declines of 32%. That isn't a good earnings report even if their CFO did put a dress on it.
It’s time to breakout the 25Ȼ firewall. It will only last until August 15th is my guess.
..OK McClatchy Watch, how come you only post the stock price when MNI goes DOWN ?
..Heh Heh, ....couldn't help myself. Felt good. Don't touch me there. I'm OK now...........
Dave D ha!
Wasn't it yesterdeay that you reported that McClatchy stock had gone up. I know that's a long tine ago, but it really sticks is my mind that you reported that.
“I try to treat each client as a personal friend. I am an advocate for my clients and act accordingly. I am a professional and attempt to maintain the highest professional and ethical standards.”
Yes, hindsite is 20/20 but MAN, I should have stuck to my gut feeling on this one and I would be at least $2,000 richer this morning. McClatchy peaked at .90 cents/share so far today. I should have just stuck with my game plan.
I still say they need to fire Gary Puritt.
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