Black Hills Monitor: Lee Enterprises Stock Now a Penny Stock
My old boss at South Dakota Public TV, Larry Miller at the Black Hills Monitor, has a thoughtful piece on the dismal status of Lee Enterprises stock.
Lee owns the Rapid City Journal and a number of other local weeklies as well as a number of other dailies across the country.
Larry notes how the stock has dropped from $14.91/share in early 2008 to a pre-Holiday low of 30 cents/share. Lee has been delisted form the NYSE.
Larry is more hopeful that I am that Lee can get back to profitability. I think holding newspaper stocks in 2009 is like owning buggy whip stocks in 1909. There's not much upside.
Anyway, go read Larry's excellent article.
Lee owns the Rapid City Journal and a number of other local weeklies as well as a number of other dailies across the country.
Larry notes how the stock has dropped from $14.91/share in early 2008 to a pre-Holiday low of 30 cents/share. Lee has been delisted form the NYSE.
Larry is more hopeful that I am that Lee can get back to profitability. I think holding newspaper stocks in 2009 is like owning buggy whip stocks in 1909. There's not much upside.
Anyway, go read Larry's excellent article.
Todd Epp
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