Charter sinks to all-time low


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Posted by madcityradio.com on October 16, 2008 at 10:13:05:

In Reply to: Charter ranked last by J.D. Power posted by madcityradio.com on October 02, 2008 at 07:04:35:

iDGi: How low can Charter go?


The plunge of global stock markets has helped drag debt-plagued Charter Communications down to new all-time lows.

On Wednesday, Charter fell 8 cents per share, or 20.5 percent, to 31 cents per share. In the past year, the St. Louis-based cable company's stock has been as high as $2.76 per share.

Wednesday's volume of 12.7 million shares was more than triple the stock's average daily volume.

Charter, the dominant cable provider for the Madison area, has more than $20 billion in debt and speculation on the company's fate has included bankruptcy and a buyout to the take the company private by primary owner and Microsoft co-founder Paul Allen.

In addition, a delisting move by Nasdaq seems inevitable if the stock can't rebound; Nasdaq requires its stocks to be at $1 or above.

Madison-based Sonic Foundry is among the companies battling to stay listed. Sonic's effort hasn't been helped by the market decline, which has helped push it down to 51 cents per share.

(Jeff Richgels, 77 Square)


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