Friday, December 26, 2008

Wall Street buffets McClatchy stock

McClatchy Co. shareholders endured a roller-coaster ride Friday, with the stock of the nation’s third-largest newspaper chain dropping and recovering. ...

Shares of McClatchy (NYSE: MNI) had a 26-cent range over the course of a relatively quiet trading day. The stock, which opened at 77 cents a share, slipped 19 percent to 62 cents a share before recovering. Shares closed the day at 81 cents a share.

Stock in Sacramento, Calif.-based McClatchy has taken a beating in recent years. McClatchy shares were trading for about $11.38 in December of 2007. In December of 2006 the company’s share price was about $37.70.

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