Categories: OLD Media Moves

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.Â One treated patient called the companyâ€™s program ‘a wonder.’Â Others on camera were cautious.

“HythiamÂ (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.Â 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 Thursdayâ€™s close.”

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.