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Info Catastrophic fall for Worldspace - 13-October-2008, 13:20

Catastrophic fall for Worldspace

Worldspace suffered more than most on Fridays pre-US holiday stock-market rout. Worldspace fell 36% to an all-time low of 32c at one point, and finished the day at just 39c. In July its price was touching $3.

The share price collapse means that Worldspaces Market Capitalisation is now a mere $16.7m, and thus near-worthless. It is widely expected that Worldspace could now be dropped by the NASDAQ index.

Four weeks ago founder and CEO Noah Samara offered to tender his resignation if requested, but that has seemingly not been called for.

There are some 32 institutional investors owning Worldspace stock, headed by Aletheia Research & Management (15.8m shares), Natixis Asset Management (2.4m) and Ameriprise Financial (1m).
   
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