McClatchy stock is going CRAZY today

As I write this, it's at $2.82, which is a 26 percent jump so far today. Still 95 percent off the heady days of 2006, but they appear to have staved off complete dissolution for a while. They had really been nose-diving three months ago.

http://www.marketwatch.com/story/mcclatchys-shares-rally-as-cost-cuts-boost-profit-2012-02-07

Earnings story says they earned 49 cents a share, up from 17 cents a share a year earlier. We'll all be happy to know that cost cuts are being credited for the increased margin.

 

The displaced McClatchy workers can just buy stock with their unemployment checks. Everyone wins.

 

They must be trying to sell.

 

They have had these spikes before once they get below $2, so I tend to believe it's as much due to accounting tricks that they showed such great growth.

But if they do remain an independent company, I'm putting them on my watch list. They get down below $2 again and it might be worth sliding some money over for the run-up.

 

Weren't 4Q results released today?

 

They were. http://www.mcclatchy.com/2012/02/07/2456/mcclatchy-reports-earnings-growth.html