Local companies feel market turmoil
Advertiser Staff
Shares of local companies ended a horrendous week as financial turmoil took its toll on stock markets.
Prices for stock of all publicly traded Hawai'i companies fell during what was a historic week for the market, led by Maui Land & Pineapple.
Shares of the Kahului-based company fell by 39 percent during the week as the stock slipped to a 52-week low at yesterday's close of $16 a share.
Other companies closing at 52-week lows were Barnwell Industries, off 33 percent to $5.99, and ML Macadamia, which was off almost one-quarter to $2.51.
Other declines for the week:
The stocks are part of the Honolulu Advertiser-Bloomberg Hawaii Index, which reached its lowest point in its 14-month history.
The index fell 20 percent during the week and ended yesterday at 66.34.
That compared to about 18 percent declines for the week for the Standard & Poor's 500 Index and the Dow Jones Industrial Average.
