Gannett's stock recently traded for $12.72 a share, down 57 cents, or 4.3% -- lowest since Dec. 11, 2009, when it traded for an intraday low of $12.71, according to Google Finance.
Newspaper stocks are following the overall market lower on renewed concerns about the U.S. economy's health. The Dow Jones Industrial Average was recently off 223 points, or 2.1%, to 10,421.
GCI's stock is 64% higher than a year ago, when it was around $8 a share, vs. a far smaller 8.1% for the S&P 500 index, a broad measure of stock activity, Google Finance data show.
But that ratio continues to narrow as Gannett shares fall, and face year-before comparable prices that are more difficult to match. On April 30, for example, when Gannett was trading near $18, shares were more than 400% higher than a year before, when they stood at only $3.50.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
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."
Note: Only a member of this blog may post a comment.