Today was a beautiful day on Wall Street. In a gathering storm of market fear over advertising pull-outs, libel suits, 401k divestments, shareholder suits, and other pressure, stocks for Sinclair Broadcasting PLUMMETTED almost 8% today.
Sinclair made the list of Top 25 Losers, clocking in with the 21st biggest drop on Wall Street today.
In a flurry of trading, over 1 million shares were sold. When the dust settled, Sinclair had lost millions, with the final trade at 6.49 -- well bellow the previous 52-week low.
Read the news here:
Sinclair stock drops on ad concerns
http://www.investors.com/breakingnews.asp?journalid=23566587&brk=1
How far can we drive this stock down tomorrow? :)
UPDATE: Here's CBS MarketWatch:
www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist= yhoo&guid=%7B8818E087%2DA326%2D4977%2D911E%2DCF6ACCB2B203%7D