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Wednesday, July 16, 2008

HOLY COW. . . . GANNETT TUMBLES AGAIN . . . AND MARKET IS UP!

Gannett Corporation, The Daily Times parent company, tumbled dramatically again today. Their stock just traded down $1.81 per share to $14.62/Share . . .down from yesterday's record low of $16.43

It seems like everyday now they are setting new record lows.

If you own this stock my recommendation is get rid of it ASAP while you can.

http://finance.yahoo.com/q?s=gci
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3 comments:

  1. AnonymousJuly 16, 2008 at 10:12 PM

    Joe:

    Please stop claiming that Gannett keeps hitting record lows. They are not doing so. The article that you posted right after this one even said this was the lowest level since Black Friday and not a record low. Most of the other ones have claimed 52 week lows. These should be clues that Gannett has, at some point in time, traded lower.

    The record low, as far as I can tell on Yahoo! Finance, is in September of 1985. During this time, they hit $9.82. Their current $16.57 is a lot higher than $9.82.

    The market is way short on Gannett, and there is a good chance that they may eventually trade below $9.82. But until their stock actually does hit a record low, please stop claiming that they are doing so.

    ReplyDelete
  2. AnonymousJuly 16, 2008 at 10:48 PM

    According to my bar graph chart - (it goes back 5 years maximum)- it is, indeed, a record low.

    If according to your 1985 chart that it is treading near now. . .I would say it is a record low to.

    For heavens sake, if a stock can't pounce out a better return over a span of 23 years. . .I would have to say it is a record.

    Are you an employee or reporter for The Daily Times?

    ReplyDelete
  3. DaddioJuly 16, 2008 at 11:06 PM

    And what is the inflation-adjusted amount in today's dollars?

    1985 = $9.82
    2008 = ??

    According to an inflation adjustment web site, the latest year for which calculations are accurate is 2007.

    And, according to them, that same $9.82 was worth $19.36 last year!

    This year's inflation would make it much more, and taking that into consideration, the current stock value of $16.57 is much less than it's old worth in 1985 even at $9.82.

    So there.

    ReplyDelete

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