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Nortel Now a Penny Stock
By Mark Evans | February 27, 2008
Boy, oh, boy, investors did not like Nortel’s fourth-quarter results and/or outlook for 2008.
The stock is down $1.43, or 13%, to $9.98 after hitting an intra-day low of $9.67. Taking into account the 1:10 stock consolidation, Nortel is trading at 98 cents, and now sports a market capitalization of $4.3-billion.
Here’s a table of where analysts think the stock is heading (which could be updated in the wake of the results):
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