Friday, April 07, 2006
When last I wrote of freedom's arch-enemy in freefall, I mentioned that NYT had cracked through the $26 mark on its southern journey. Today, only 16 days later, it pleases me to report that NYT Class A shareholders have ceded another $180M to Pinch Sulzberger's business acumen.
Not only that but the stock closed at $24.92 which means that another technical barrier has been broken. There was heavy trading as the stock broke $25 - but not enough to provide a floor.
One might wonder a bit about any insider selling here. After all if Bill Keller has a DoJ target letter in his inbox, he's going to have to raise some money.
It's going to be an interesting spring and summer.
Posted by Rick Ballard at 5:11 PM