Unfortunately for investors in Circuit City, which is going after approval to liquidate the company, there doesn't look to be any remaining value for common-stock shareholders.
Circuit City's stock, which traded around $20 in January 2007 and $4 in January 2008, is worth virtually nothing today. If you're interested in background, check out The Consumerist's posting of "The Decline and Fall of Circuit City" graph.
Mutual-fund investors shouldn't worry. According to Morningstar, as of September 30, the few mutual funds that still held the stock had a small number of shares.
Wednesday, TCW, the company's largest shareholder, shed 18 million shares of the company yesterday, dropping its stake from nearly 11 percent to 0.2 percent.
Reader Comments Read all comments (4)
steve of CA 10:15PM March 05, 2009
steve of CA 10:13PM March 05, 2009
steve of CA 10:13PM March 05, 2009