Discussion in 'Trading' started by richk, Jul 1, 2005.
gapped down today 16% , approx 10pts. I have no news , does anybody know why it happened
Ashland Common Stock Price Information - 7/1/2005
July 1, 2005 - The price quote for Ashland's common stock of roughly $60 is correct. The indication that our stock price is down roughly $12 per share is wrong. The NYSE agrees with our position and is attempting to correct the reporting error. The distribution of Marathon stock is creating the confusion. Ashland is now trading ex-dividend with respect to the .2364 Marathon share which will be issued for each Ashland share. This is the equivalent of a dividend. Yesterday our stock price closed at $71.87 and the value of this Marathon stock distribution was $12.62. Thus for purposes of measuring changes in our stock price, yesterday's close was $59.25.
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