November 20, 2008

New lows for some Racine-based stocks

Can you say "bread line," boys and girls?

That's our word for the day, as the Dow fell yet another 444.99 points Thursday, breaking solidly through the supposed 8,000-point floor to wind up at 7,552, and taking the stocks of most Racine-based companies with it.

All the way down to new 52-week, and even historic lows.

Among the casualties -- all double-digit percentage drops except for Lee -- were:
  • Case New Holland, CNH, which dropped $1.97, to $11.09 per share. Its 52-week high was $70 ... it seems a lifetime ago. In September, it was $37.
  • Twin Disc, TWIN, dropped $.91 to $4.04 per share. Its 52-week high was $37.46. Just two months ago it was at $18 and a local broker assured me it was a "buy."
  • Lee Enterprises, LEE, owner of the Journal Times, fell "just" $.09, to $1.24, but has touched $1.07 -- barely two cents above the New York Stock Exchange's delisting point of $1.05. Its 52-week high was $15.97.
  • Marshall & Ilsley, MI, fell $1.33 to $11.86. Its 52-week high was $33.04.
  • Modine, MOD, dropped $.53 to $3.52. Its 52-week high was $21.77. And in September it was a t$17.
Just remember: Some day we will look back upon today as a buying opportunity.

1 comment:

  1. Don't forget Emerson Electric! Right now it's 29.+ That is less than when I bought it 25 years ago.