AOL’s Stock Sinks After Closing Huffpo Deal
LAT’s Nathan Olivarez-Giles writes:
AOL’s purchase of the Huffington Post closed Monday, and the same day, AOL’s stock sank to its lowest price ever.
As noted by Business Insider’s Chart of the Day, shares of AOL fell about 4%, or 79 cents, to $19.26 — its lowest closing price so far. That was down about one-third from the one-year high it reached in April, Business Insider noted.
This could be an indicator that the purchase of Huffpo by AOL was overpriced or the investors are not thrilled with Chief Executive Tim Armstrong. And it could also be a combination. Although, it is only the first day…and an all time low.
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