Gannett stock: It happened this week

Click on this chart to see a bigger, easier-to-read view; you also can go to an online version, here. It was a brutal week for investors of all stripes, including those with a stake in Gannett. GCI shares closed today at $41.12, the lowest closing price since March 11, 1997, when they finished at $41.06.

For the week, GCI (blue line) fell 7.2% vs. a smaller-but-still-painful 3.9% drop in the S&P-500 Index (red line), a broad measure of the overall market. Look carefully at that chart, above, and you’ll see things really started coming apart for GCI on Thursday, the day after it released third-quarter earnings. I don’t know why Wall Street reacted so negatively a day after the fact. But in any case, I suspect investors were disappointed that GCI didn’t follow the lead of Belo and Scripps in announcing a corporate breakup into newspaper and non-newspaper companies.

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