Wednesday, January 05, 2011

stock slide

My home page on the browser of my work computer is set to the internal company website. This is both mundane and practical. Said page has many of the links I use during a normal day to reach whatever business systems I need to do my job. It is also (not surprisingly) different than the company's public website, but they do share one feature, which is the display of the company's stock price. I glanced at it today near the end of my work day (so midday-ish in the NYSE world) and noticed the stock had slid a solid 3-4% which seemed quite odd. This piqued my curiosity and led me to look at news and announcements and nothing seemed all that significant. By the end of the trading day, the trading volume had reached a 4-week high, which was admittedly somewhat low given the low holiday-affected volumes of December, but still interesting. Now, the stock has recovered mildly, but still down about 3% for the day and I really have no clue as to why.

Next day edit: It seems we're issuing some bonds today for quite a hefty sum. Maybe some knew about this in advance or maybe it's just a coincidence.

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