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By Market News Video Staff, Tuesday, November 23, 2:19 PM ET
New York Times (NYSE:NYT) shares are surging today, after trading higher yesterday as well.
The stock price jump has been accompanied a huge increase in volume as well.
Analysts are speculating that the uptick is due to trading by one of the company’s largest shareholders. Harbinger Capital Partners (NYSE:HRG) and billionaire Carlos Slim have been mentioned as potential sellers with enough holdings to cause this sort of volume spike.
Shares are trading up 6.7% Tuesday.
The newspaper stock is 2.68% of the Dynamic Media Portfolio (AMEX:PBS).
Other newspaper companies in the fund include Belo Corp. (NYSE:BLC), at 2.37% of the fund, and Gannett (NYSE:GCI) at 2.36%, both of which have non-newspaper media operations as well.
This Article's Word Cloud:AMEXAnalystsBeloCapitalCarlosCorpDynamicGannettHarbingerMediaNYSEPartnersPortfolioSharesTimesTuesdayYorkaccompaniedbeenbothcausecompaniescompanyenoughfundhavehigherholdingsincreasejumplargestnewspaperoperationspotentialpricesellerssharessortspeculatingstocksurgingthattodaytradinguptickvolumewellwhichwithyesterday
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