LEHMAN GAPPED DOWN AGAIN
September 11th, 2008Via: AP:
Lehman Brothers Holdings Inc.’s rescue plan is getting a dismal reception from Wall Street with shares of the battered bank plunging 41 percent.
The stock price unraveled in early trading Thursday after analyst reports cast doubt that the nation’s fourth-largest investment bank can survive.
Shares fell $2.99, or 41 percent, to $4.26 — down more than 94 percent from their 52-week high of $67.73.
Other financial stocks were also pulled lower amid fear that banks and brokerages still have more pain to go before the year-old credit crisis begins to wane. Merrill Lynch & Co. shares fell 11 percent, Goldman Sachs Group Inc. dropped 3 percent, and Washington Mutual Inc. shed 22.9 percent.
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