Local companies' stocks drop post-election
Birmingham Business Journal - by Crystal Jarvis Staff
A majority of Birmingham-based companies’ stocks remained fairly stable as the Dow Jones Industrial Average plunged 300 points Wednesday – a reaction to post-election jitters and fears of a possible recession.
The largest drop in stock prices as of Wednesday afternoon was for Colonial Properties Trust (NYSE: CLP), which saw its stock price dip 12 percent to $8.03, compared to $9.14 at close on Tuesday.
Energen Corp. (NYSE: EGN) stock prices dwindled 6 percent to $30.74, compared to $32.73 at close Tuesday.
Books-A-Million Inc.’s (Nasdaq:BAMM) stocks also slid about 6 percent to $2.98, compared to a previous close of $3.16 on election day.
Regions Financial Corp.’s (NYSE:RF) stock fell 2 percent to $12.18, compared to $12.51 at close Tuesday.
Other Birmingham companies also saw a decrease, Protective Life Corp.’s (NYSE:PL) stocks declined 4 percent, ProAssurance Corp.’s stock declined 2 percent and Vulcan Materials Co.’s (NYSE:VMC) stocks dropped 1 percent.
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