WorldCom Stocks Take A Dive - - The News for South Mississippi

WorldCom Stocks Take A Dive

WorldCom shares were trading down as much as 15 percent Wednesday.

The shares have tumbled more than 25 percent since closing Monday at $12. In trading Tuesday, investors pushed the price to a low of $8.70 before it rebounded slightly. By mid-day Wednesday, shares were trading at about $9.

The shares traded as high as $23.06 in the past year.

Among investor concerns, according to analysts, are WorldCom's debt burden and speculation that chief executive Bernie Ebbers could be forced to sell shares because of a margin call on his stock.

Company spokesman Brad Burns dismissed rumors surrounding Ebbers' holdings. He says there are no foreseeable circumstances that would require Ebbers to sell.

Investment analyst Patrick Comack says today's share price made WorldCom "a blue light special'' on the takeover market.

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