Monday, October 31, 2005
Granite Broadcasting - Do the Math
Granite Broadcasting certainly has had its financial woes. Those woes have been well chonicled by Indiana Parley, Fort Wayne Observed, and Linda Lipp at the Greater Fort Wayne Business Weekly.
The stock now trades in the neighborhood of 25 cents per share. A year ago it was delisted from NASDAQ and is now traded on the Over the Counter (OTC) market.
How badly would your own investment in Granite have performed over the years? Well, let's say that you had decided to invest in Granite during the boon years and you held on to the stock through...well, thin and thinner. Maybe you made the investment when 21Alive was in its prime. The fine folks of Granite Broadcasting have put a handy investment calculator on their website to help you do the math.
Here's a sample: If you had invested one-thousand dollars ($1,000.00) two years ago today, your stock would be worth one-hundred nineteen dollars and a little bit of change ($119.05) now. That's a drop of 88.10%.
(Figures based on use of the Granite calculator at 8:36 AM EST October 31, 2005)