Support Local Journalism. Join Riverfront Times Press Club.

Friday, June 8, 2012

Lee Enterprises Stock Cools Off a Bit After "Warren Buffet Surge"

Posted By on Fri, Jun 8, 2012 at 7:00 AM

Late Tuesday, Berkshire Hathaway -- the conglomerate controlled by investment wizard Warren Buffet -- was forced by SEC fiat to disclose that it had bought $2.1 million worth of shares in Lee Enterprises, parent company of the Post-Dispatch

So naturally, here's what happened:

Lee Enterprises stock cools off after Warren Buffet's firm reveals position - IMAGE VIA
  • Image via
  • Lee Enterprises stock cools off after Warren Buffet's firm reveals position


A lot of other people decided to buy shares too, because Buffet is (1) a genius, (2)  the most successful investor this century and (3) loaded with enough cheddar to purchase you, your family, and probably Spain.

The new demand shot the price up 30 percent to 1.43 per share on Wednesday morning. But by the close of trading today, the price had dipped back down to 1.28 per share.

But it's all relative: Compared to years past, Lee stock has been way up this year ever since the news came out in January that it had successfully refinanced its massive debt (much of which was incurred when it bought the PD in 2005).

Tags: , ,

Support Local Journalism.
Join the Riverfront Times Press Club

Local journalism is information. Information is power. And we believe everyone deserves access to accurate independent coverage of their community and state. Our readers helped us continue this coverage in 2020, and we are so grateful for the support.

Help us keep this coverage going in 2021. Whether it's a one-time acknowledgement of this article or an ongoing membership pledge, your support goes to local-based reporting from our small but mighty team.

Join the Riverfront Times Club for as little as $5 a month.

Read the Digital Print Issue

September 22, 2021

View more issues

Newsletters

Never miss a beat

Sign Up Now

Subscribe now to get the latest news delivered right to your inbox.

Best Things to Do In St. Louis

© 2021 Riverfront Times

Website powered by Foundation