Charlotte Observer parent company McClatchy shares lose 82% of value in week as publisher warns of year ahead

Shares in The McClatchy Co. fell 65% on Friday to close out a week when the publisher of The Charlotte Observer disclosed a large third-quarter loss and warned of a potential liquidity crisis next year. Through all of last week, McClatchy (NYSE: MNI) shares fell 82.4% from its $2.73 close on Nov. 8 to last Friday’s close of 49 cents. Shares were trading at 56 cents at about noon on Monday. The Sacramento, California-based newspaper publisher disclosed Wednesday that it's facing $124 million…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2019/11/18/charlotte-observer-parent-company-mcclatchy-shares.html?ana=RSS&s=article_search