Monday, March 09, 2009
Upcoming: As global stocks fall, investors eye GCI
Investors are watching Gannett shares today as world stocks dive, with Japan's benchmark index tumbling to a 26-year closing low. Trading in GCI resumes in about 30 minutes, at 9:30 a.m. ET, after it closed Friday at $2.20 a share, down a stunning 32% from a week before.
8 comments:
Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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ONE buck!
ReplyDeleteThe sheer demise of the company's market cap is astounding. Put it in these terms: Just a couple of years ago, Gannett sold four of its smaller papers (Rockford, Utica, et al) for almost the amount of money the entire company's worth today.
ReplyDeleteWho would have ever thought we'd be sitting here looking at Gannett trading for $2 a share?
ReplyDeleteSomeone has to be held accountable for this.
The economy is to blame and poor ad sales.. Gannett Stock will bounce back(if short sellers dont kill it) when the economy returns!! I see Gannett at $13 dollars this time next year
ReplyDeleteWho believes the economy will come back, or even if it does, that GCI will be around to take advantage of it. Look at the stock: Wall Street is betting this company isn't going to make it. This sort of foolish boosterism is misleading. Take a sober look at what is happening, and you will see how bad it really is.
ReplyDeleteI dislike this cliche, but it seems applicable: "Why buy the cow when you can get the milk for free?"
ReplyDelete@12:33 That truly is amazing.
ReplyDeleteThe massive hemorrhaging that GCI is doing in simply unbelievable. I don't see how anyone can truly say with any confidence that Gannett can somehow make it through this intact. Not in their current form, at least.
Most likely scenarios (in no order): breakup, bankruptcy, merger. All after more massive layoffs and closings, of course.
The board decided to only focus on dividend instead of drastic changes hence the day after day decline. 70M share sold short have no reason to buy the stock back if they think its heading to chapter 11.
ReplyDeleteManagements fault is lack of communication and plan to come out of this, all they say is the strategic plan will work and the downturn is cyclical....