Journal of Commerce--YRC Worldwide’s stock plunged 77 percent Friday to 7 cents a share — its lowest price ever — after shareholders approved the trucking giant’s restructuring.
The shareholders on Sept. 16 agreed to steps that will increase the number of common shares in the company’s stock from 80 million to about 1.9 billion.
More than 350 million shares of YRC stock were traded on the Nasdaq exchange Friday. The stock opened at 28 cents per share after closing at 30 cents Thursday.
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The shareholders on Sept. 16 agreed to steps that will increase the number of common shares in the company’s stock from 80 million to about 1.9 billion.
More than 350 million shares of YRC stock were traded on the Nasdaq exchange Friday. The stock opened at 28 cents per share after closing at 30 cents Thursday.
Read more!
