35 Percent Stock Price Drop In Minutes

February 2, 2011 6:17 am

A bankruptcy rumor can kill a stock. Borders stock lost 35 percent in the last few minutes of trading Feb 1 2011.

Shares of Borders Group plunged more than 35% Tuesday before the market close, and fell another 17% in after hours trading on a report claiming the company will file for bankruptcy.

The bookseller may file as soon as next week, Bloomberg reported, adding that one source indicated the chain is likely to close at least 150 stores.

Statistics Source: CNN Money

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