Tom Taylor on Citadel's stock drop

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Posted by chicagomedia.org on March 06, 2009 at 10:30:08:

In Reply to: Citadel stocks crash posted by Penny on March 05, 2009 at 19:19:49:

Penny arcade

Citadel stock drops from a dime to a penny.

Literally one cent - that was the closing price in a generally lousy stock market day. But Citadel came in for special punishment with a shocking number of shares traded. Get this - the recent average daily volume on "CDL" is about 840,000 shares. Yesterday - 18,491,029 shares traded hands. That's 22 times the average. One former Citadel staffer here at the Country Radio Seminar says "it's going to be really tough, with the two-year closing date on the Disney deal for ABC coming up in June and the debt payments. Farid's going to need friends, and I don't know who he's got."

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: Penny arcade : Citadel stock drops from a dime to a penny. : Literally one cent - that was the closing price in a generally lousy stock market day. But Citadel came in for special punishment with a shocking number of shares traded. Get this - the recent average daily volume on "CDL" is about 840,000 shares. Yesterday - 18,491,029 shares traded hands. That's 22 times the average. One former Citadel staffer here at the Country Radio Seminar says "it's going to be really tough, with the two-year closing date on the Disney deal for ABC coming up in June and the debt payments. Farid's going to need friends, and I don't know who he's got."

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