- Dec 19, 2002
Another disconnect at RadioShack, shares drop below $1 | America's Markets
I think this is finally the "official" writing on the wall, folks. Most companies don't rebound from something like this. They will certainly NEVER be back at ther $100+ a share peak in the 80's. Sad to see 'em go, but as they say, that's progress.Wall Street continues to tune out RadioShack. Shares are off 10% to 93 cents in mid-day trading Friday, pushing RadioShack below $1 for the first time ever. It’s just the latest of 11 stocks to flush below $1 a share.
Hurt by plummeting sales, widening losses, disinterested shoppers, liquidity woes and a turnaround plan that’s failed to jolt the struggling specialty electronics retailer’s prospects, RadioShack’s now sinking on renewed bankruptcy rumors.