You're looking at a Google Finance screen shot of Gannett's stock performance today, as shares edged closer to a critical juncture: trading below $40 a share. Wall Street analysts refer to such milestones as breaking through a "floor,'' an event that can spook investors.In this case, GCI's trading below $40 could remove a psychological impediment to investors selling at even lower prices. It's all part of an emotion-driven Wall Street. What happened today? Gannett traded at a new 10-year low, $40.38, surpassing the previous low of $40.70. By day's end, shares closed at $40.66, down 79 cents.
Meanwhile, for the week: GCI fell 3% vs. a smaller 1.7% decline in the broader S&P-500 Index.
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