GCI
stock recently changed hands for $3.12 a share, down 23%, after trading as low as $3.05 earlier in the session, Google Finance is now reporting. The decline follows the stock's unusual run-up since last Thursday, when Chicago money manager
Ariel Capital Investments revealed that it had become Gannett's No. 2 stockholder. This morning, broader markets were lower:
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GCI stock recently changed hands for $3.12 a share, down 23%, after trading as low as $3.05 earlier in the session, Google Finance is now reporting. The decline follows the stock's unusual run-up since last Thursday, when Chicago money manager Ariel Capital Investments revealed that it had become Gannett's No. 2 stockholder. This morning, broader markets were lower:
Slide? It is a 25 percent collapse as I write this. What goes up, comes down.
ReplyDeleteI move the GCI shares out of my 401k each week for a variety of reasons. The real beauty of this wild swing has been that the holiday made us all take the company match at yesterday's high.
ReplyDeleteNow, we've either got to hang onto the shares for awhile and hope they rebound or take an immediate loss of almost 25 percent.
This is no big deal for all the folks who are predicting the stock will hit $10 again, but I have my doubts. At least I have so few shares that it's not much money.
Wonder if Ariel bought in the $2s and dumped right after they dropped the 13G form Thursday?
ReplyDeleteCould have made a nice profit yesterday, that would count against longer-term losses they have in GCI.
Dubow and all those other execs lost all that paper gain that was so big a deal on the blog a couple of days ago! Wow, I bet that really frosted them, huh? Hope it goes up above 3.75 again soon so we can get mad at them about it again.
ReplyDeletehttp://www.businessweek.com/ap/financialnews/D97ICR7O0.htm
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