Thornburg stock hits new low
Wednesday, May 14, 2008 4:51 PM
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Thornburg Mortgage stock set a new low at the end of trading Wednesday, closing at 67 cents per share.
The stock, which took a one day dip below $1 in March following a rush of margin calls, has been in a steady decline in anticipation of a shareholder vote that will either massively dilute the value of Thornburg Mortgage stock (NYSE:TMA) or, if the vote should fail, put the continued existence of the company in jeopardy.
The stock's previous low had been 71 cents on March 10 and again at Tuesday's close.
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The company is based in Santa Fe.
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