This makes no sense to me:
Over the past week, the share prices for Canadian media giant CanWest have been hammered. At the moment, it’s trading at $1 a share (it’s been as low as 95 cents today); five days ago it was about $1.47., and the 52-week high was over $8 a share.
I’ve been tracking this, and the stock has underperformed market averages every day this week.
Yet when I do a google search on the words “CanWest” “share” and “price,” the top three hits are news story from January 2007 and July 2008, and a blog post I wrote about this a couple of days ago.
Really? We have what appears to be a significant Canadian business story here, and in the general Google search category the results throw up two outdated stories and a small blog post.
When I hit the “news” tab at Google I get a single relevant story, the Globe & Mail’s piece CanWest’s woes ‘very challenging for the foreseeable future’.
It is, perhaps, not surprising that none of the CanWest-owned newspapers appear to be covering this story. What is surprising is that very few others seem to be covering it, either.
UPDATE: The business press is starting to ctach up to this story. Just after I posted this this morning, I did another Google check and found a Reuters piece, Canwest stock below C$1 as ad outlook darkens.