Stock Market
General Growth floperties
Things just keep getting worse for General Growth Properties. The company’s stock plummeted another 50% today after it posted a $15 million dollar loss for Q3. Shares of GGP have lost 90% of their value in the last 3 months. With results like this, it’s no wonder the company got rid of its CEO and CFO.
Take a look at this abortion of a stock chart:
[...] week the company will owe $900 million of mortgages on its Palazzo mall in Las Vegas. GGP’s stock has been hammered this year, closing yesterday at a measly 40 cents — down from a March 2007 high of $67. [...]