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Domino's stock hit by incorrect media reports
June 26, 2008
ANN ARBOR, Mich. — Domino's stock fell to an all-time low in the wake of incorrect media reports that analysts had downgraded the stock.
Domino's shares fell to $10.58 in early trading June 27, but recovered much of the loss later in the morning. The company's shares are down about 14 percent for the year.
The entity downgraded by JP Morgan was Domino's master franchisee in Australia, Domino's Pizza Enterprises, which is traded on the Australian exchange as DMP. Several media outlets reported the downgrade as applying to Domino's Pizza Inc., which is traded on the New York Stock Exchange under the symbol DPZ.
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