Friday, January 4, 2008

McClatchy (MNI) shock: shares plunge 6% on Friday ***UPDATED: SHARES CLOSE UNDER $11 ON FRIDAY, DOWN 6.55%***

The bleeding hasn't stopped for McClatchy. McClatchy (MNI) shares hit another 52 week low in mid-day trading on Friday, dropping more than 6% before closing. Morningstar link here.

UPDATE: 1:40: McClatchy closed at $10.99, down 77 cents from yesterday's close.

2nd UPDATE: 2:01: Gannett Blog says all newspapers stocks (except Lee) took a fall but McClatchy's fall (6.6%) was the biggest.