United Gets Punk’d
September 8, 2008 – 11:46 amUnited had a tough morning when news leaked on the Internet that it was filing for bankruptcy. The stock dipped from $11 down to around $7 and have bounced back up since then. (Thanks to reader JC for the tip.)
Over the past month United stock has risen about 45%. Hardly the ordinary performance of a company that everyone thinks is about to go bankrupt. Yet, one internet rumor, has everyone believing. Except, if everyone already thought United could go bankrupt (which many probably do), which then raises the question, why has the stock price risen 45% in the last month? Sure, oil prices have dropped, but not much else has really changed.
