Wednesday, December 21, 2005
New York Times Stock Gets Hit In After Hours Trading
NYT gets hit in after hours trading.As I write this,the stock is down to 26.07 which is over a 3.3% drop from Wednesday's close.Reuters reports more lackluster earnings estimates for the Times.To put things in perspective, the recent multi-year low was $26.39 so the stock has gapped through, right now, in after hours trading.How many more multi-year lows can Pinch take? Is the $25 handle the line in the sand for the Sulzberger clan? Or is it lower ? Can Pinch survive? Just a friendly reminder to all NYT shareholders(whatever their class) and the Sulzberger clan,$25.45 is 50% off the June of 2002 high of $50.90.