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Article: Williams Communications' Stock Falls Below $1 Despite New Contract.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 6, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By D.R. Stewart, Tulsa World, Okla. Knight Ridder/Tribune Business News
Feb. 6--Reflecting its difficult financial condition and that of the industry, Williams Communications Group Inc. stock dropped 15 cents a share Tuesday, closing at 85 cents.
More than 27.7 million shares were traded, over five times its average volume, bringing the number of shares traded during the past two sessions to 52 million.
Tuesday's closing price marks the first time Williams Communications stock has closed below $1 a share since its initial public offering -- at $23 a share -- on Sept. 30, 1999.
The stock's tumble from $2.28 a share the day after ...
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