Black Box potential bankruptcy: Talk about a comeback. Earlier this week, Black Box Corporation made two announcements, none of which did the company any favors.
First, Black Box Corporation announced on July 2nd that its annual report would be published late. Then, we had the Black Box potential bankruptcy announcement. On Monday, the Pittsburgh-based company warned investors that it could be facing bankruptcy.
The news spread like wildfire, causing shares of Black Box to drop. The trusted digital partner likely expected this, but I wonder: did they expect shares to drop as much as 63%? Did they expect that the news would cause the stock to hit a new 52-week low?
I suppose that question has been shoved to the back of the company’s mind, though – for now.
Yesterday, the Black Box stock started to rebound, and it appears to be doing the same thing today.
Black Box Potential Bankruptcy: Stock Rebounds Anyway
After starting the week off on the wrong foot, Black Box certainly seems to have redeemed itself. Now, that doesn’t mean the future is all bright for the company, but at least the stock managed to climb its way out the red zone before the week’s end.
According to Google Finance, the Black Box (NASDAQ:BBOX) stock ended the day up 113.68%, trading at $2.03. Note that Black Box stock is currently down 1.48% in after-hours trade, but hey, focus on the positives, right?
So what happened? The rebound started yesterday, but was anything announced today, Friday, July 6th? Let’s see what we can find out.
The Latest Black Box Corporation News
According to GlobeNewswire, the company, one with over 40+ years of experience in its field, making the possibility of it facing bankruptcy all the more worrisome, is partnering with a renowned social media organization.
The timing of these announcements certainly makes one wonder. The first two days of the week showed Black Box Corporation in a negative light, while the last two illustrated it as a company that makes connections and sees gains because of it.
The Takeaway
How do you feel about all the Black Box news we saw this week? Did the last two days of the trading week make you forget about the Black Box potential bankruptcy news?
Either way, the Black Box stock was a trending ticker of the day. So, even if the company goes bankrupt, it’ll always have today.
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Featured image: Twitter
