(no subject)
Jan. 5th, 2009 11:41 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ivyficThis week's Publishers Weekly shows the book industry disappearing into a black hole.
This is a bad sign.
They have a list of industry stock prices. Book stocks are never the most profitable, but on this list, the average stock drop is around 50%. And then there's Borders. Borders stock has dropped 96% over last year--from 10.65 a share to .40. According to Publishers Marketplace, "they were informed by the New York Stock Exchange on December 31 that their stock is in danger of being delisted after trading for less than one dollar for 30 days."
We are all going down.
This is a bad sign.
They have a list of industry stock prices. Book stocks are never the most profitable, but on this list, the average stock drop is around 50%. And then there's Borders. Borders stock has dropped 96% over last year--from 10.65 a share to .40. According to Publishers Marketplace, "they were informed by the New York Stock Exchange on December 31 that their stock is in danger of being delisted after trading for less than one dollar for 30 days."
We are all going down.