Tuesday, June 13, 2006

Junior In Freefall

Junior Sulzberger needs to take some lessons from Ospring I. Or, perhaps, it is the remaining fools who continue to hold New York Times Class A stock.

My short notes on the performance of NYT Class A only occurr when the stock passes another dollar sign on its way to ???

The stock closed at $22.92 after touching $22.87.

How does sedition taste when you roll it around in your mouth, Junior? Has it lost its fruity bouquet yet?

BTW - Volume was up on the stock - there are some institutions squeezing out on a down day.

2 comments:

chuck said...

Wow, that was fast. Wonder where the near term bottom is?

Rick Ballard said...

"Wonder where the near term bottom is?"

I don't think there is one. The Sulzberger ownership precludes typical board action - removal of the failed CEO - so there is no way to evaluate a potential stopping point.

It's still not a short unless you've got an iron stomach. As rich as the Sulzbergers are they could still decide that Junior is too big a liability and firing him is worth at least a 20% bounce.