Long ago in a galaxy far away I used to follow stock charts. I now consider chartists to be akin to soothsayers in that they always have a perfectly good reason for yesterdays prognostication not to have worked out in the manner forseen. One aspect of charting that does seem to work out rather well is resistance (or support) level. It works because the market has built in standing 'buy if price hits' orders based upon breakup or residual values of a given company.
The Moody's warning seems to have punched a hole in the 'floor' value of the NYT. The previous floor was at $26 but as the chart shows, Pinch has succeeded in taking the NYT into uncharted waters.
He has also succeeded in lowering its market capitalization by $1.6 billion - about 35%. There are very few CEOs who have ever turned in this type of performance in a single year. It takes a very special type of board to hold on for a ride off a cliff.