Olympus shares plunge 24%.....

Started Oct 17, 2011 | Discussions thread
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Olympus shares plunge 24%.....
Oct 17, 2011

Hot on the heals of the news from the other day regarding Oly's demotion of their CEO - the company's stocks are doing particularly poorly...

....Shares in Japanese camera and precision equipment maker Olympus dived 24% Monday, hitting a more than two-year low as the abrupt demotion of its first non-Japanese CEO clouded its outlook.

The heavy selloff sent the stock to its lowest closing level since April 2009 as the ouster darkened prospects for the Japanese company’s earnings, analysts said.

Olympus shares closed down 23.96% to 1,555 yen.

The loss followed an 18% drop on Friday on the news that the company had stripped its first ever non-Japanese president and chief executive of his titles and demoted him to to the post of director without executive authority.....

Full story here...


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