Gannett's stock closed this afternoon at $26.60, up $6.75 a share, or 34%, according to Yahoo Finance data, after Corporate surprised Wall Street with a deal to buy Dallas-based television company Belo Corp.
Adjusted for dividends and splits, it was the biggest daily dollar advance over the past 20 years -- beating the previous milestone on Oct. 11, 2002, when GCI jumped $3.32 a share to $52.74, according to Yahoo Finance data.
In percentage terms over that period, today's was the second-biggest daily gain since April 9, 2009, when shares jumped 39.5%, or 94 cents, to an adjusted close of $3.32. That was near the depths of the Great Recession, according to Yahoo's data.
In after-hours trading today, GCI was little changed after earlier falling $1.31 a share, or 5%, to $25.29.
Related: spreadsheet shows adjusted daily closing prices over the past 20 years, according to Yahoo Finance.
Adjusted for dividends and splits, it was the biggest daily dollar advance over the past 20 years -- beating the previous milestone on Oct. 11, 2002, when GCI jumped $3.32 a share to $52.74, according to Yahoo Finance data.
In percentage terms over that period, today's was the second-biggest daily gain since April 9, 2009, when shares jumped 39.5%, or 94 cents, to an adjusted close of $3.32. That was near the depths of the Great Recession, according to Yahoo's data.
In after-hours trading today, GCI was little changed after earlier falling $1.31 a share, or 5%, to $25.29.
Related: spreadsheet shows adjusted daily closing prices over the past 20 years, according to Yahoo Finance.
Good for our 401K plans for now. Bad for the trolls lurking this site. Watch them pile on with their angry reactions to the slightest morsels of good news from Gannett.
ReplyDeleteYou're absolutely right about the weirdo stuff that shows up in this blog. As for the stock, I don't keep more than 5-10% in Gannett stock, because of the hard lessons learned -- as noted by another poster -- from Enron.
DeleteHello 10:23, I should have specified that I keep my Gannett portion of my 401K just under 10%. That's a policy that has served me well.
DeleteTime to sell. Just being realistic, not a troll. You should have little to no company stock in your 401K portfolio. No matter who you work for. Ask anyone who was employed by Enron.
ReplyDeleteIndeed. Timing the market and betting on individual stocks is nuts unless you have deep pockets, a strong stomach, and a Ph.D. in hedging (or somebody else's money to play with).
DeleteDumping stock just to dump it is a dumb move. 9:35, people bet on individual stocks all the time. Even people with mutual funds are relying on individual performances. Try to know what you're talking about.
DeleteSo glad a stock that was at 90 a few years ago went "up" to 25 today. So glad I never trusted Gannett enough to have more than a morsel of Gannett stock in my 401K.
ReplyDeleteCraig Dubow is not high on my list of former co-workers
And wasn't Gracia the CFO during that time?
Delete