Massey's shares have fallen 10%
Massey Energy has seen its stock get hammered today following word late yesterday of a deadly explosion in one of its West Virginia mines in which 25 workers were killed. Some investors have apparently dumped the stock thinking lost production of tighter regulations will hurt future profitability. (The stock has shed some $492 million in market capitalization today).
But clearly some others think the sell off is making the stock cheap. Another interesting measure is money flow – it’s a measure that looks at the amount of money coming into a stock and the amount going out the door. You would think with a 10% selloff that Massey investors were in a mass unloading mode. Not true. Instead, there is a net $25 million positive money flow into the stock.
