Wednesday, January 2, 2008

Ron Paul Supporters Selling Off Their News Corp Stock

Google Finance
hat tip: Lew Rockwell
Looks like there is a bit of a "Wall Street Protest" going on today in the stock market.
There is a movement abound for those who are supporters of the Ron Paul campaign to sell off their Fox shares (NewsCorp) due most likely to the overt smearing and exclusion of the candidate from the New Hampshire forums scheduled for sunday. Some of the comments on the Google Finance page for NewsCorp are very telling as to what is happening out there, here's a few:

User # 1: I'm hearing chatter among a few very popular political forums (memberships breaking over 1000 each) and communities that due to FOX's exclusion of Ron Paul (in what they're calling blatant censorship) investers holding NWS have had it and are going to dump shares! This guy's supporters managed to throw over $10 million at the guy over two seperate days. Who knows what this group is capable of! I'm taking my money and running...

User #2: Don't worry here in New York I'm telling all of my clients to dump it.
Check out the options too. Buy as many puts as you can! Time to make money off the mistakes of News corp.

User #3: Yeah, this one is turning out quite predictably. I think it will
reach an early limit, as we run out of punishment sellers, then it will take a short-term pop up on underlying value until the boycott of the advertisers starts to kick in. Then the long-term damage to the bottom-line will start to kick-in. the 2008Q1 revenues should already start to show some damage. By Q2, if the boycott advocates keep the press on, and it continues to grow, spreading from republicans to the democrats and independents who have always hated Fox, I expect some serious value damage, on the order of 20-25%.

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