CLDN is an international transportation company primarily offering full truckload and flatbed trucking services.
Historical Perspective:
quote.yahoo.com
April '97 this was a $10-$12 stock.
Oct '97 through June '98 it was a $14 -16 stock.
June '98 Celadon accepted a CASH BUYOUT for $20/share
and traded at $19 for many months and began drifting
down due to general market conditions (Asia, Russia,
Clinton/Lewinsky).
Sept 98 the stock was trading in the high $14's.
It was halted with the following news:
biz.yahoo.com
Odyssey/Laredo, the buyout firm, had recieved notice
that the lender of the loan, Bankers Trust Corporation,
was not obligated to provide financing for the merger
due to the current market conditions. Their
commitment to provide bridge financing was not been terminated.
With this news, CLDN was gapped down the following Monday.
(The day Bill Clinton's Grand Jury Video tape was released)
After gapping down, it hit a low of 9 3/8, but very few shares traded at this price. Market Makers took the bid as low as 9 1/8, but no one would sell. Closed at $10 on 584k shares.
Lets talk about Celadon. |
