Appearance on "60 Minutes" brings ups and downs for stock

Hal Morris, writing on his Grumpy Editor blog, notes that a recent appearance on the “60 Minutes” show by a Los Angeles-based company brought some highs and lows to its stock price.

Morris wrote, “Pros and cons were aired.  One treated patient called the company’s program ‘a wonder.’  Others on camera were cautious.

“Hythiam (NASDAQ:HYTM), enthusiastic for the TV exposure, issued a press release via Business Wire on Friday alerting investors and others of the upcoming 60 Minutes segment.  Another Business Wire news release, mentioning the 60 Minutes airing Sunday night, was sent out yesterday morning.

“So how did this affect the stock?

“Grumpy Editor observed that despite some gyrations and big volume jumps Friday and yesterday, the stock — a day after the TV airing — ended the trading session at $3.37, four cents above last Thursday’s close.”