Warner Music Group Stock Drops 18.29%
(UPDATED) Warner Music Group had a tough day on Wall Street Tuesday, as it's stock price dropped $1.11 to $4.96 since. That's a fall of 18.29%, but still above the stock's 52 week low of $3.76. The broader market had a far less dramatic day with the Dow Jones Industrial Average dropping just 1.11%.
Traders may have been spooked by the insider trading trial of former Vivendi CEO Jean-Marie Messier which begins tomorrow in the Paris. WMG CEO Edgar Bronfman Jr. had previously been implicated in the alleged affair.
UPDATE: WMG stock rose 4.44% to $5.18 in after hours trading Tuesday night. Follow today's action on the stock here.