You had Martha Stewart Living Omnimedia shorted, didn’t you?
NEW YORK (AP) – Martha Stewart was convicted Friday of obstructing justice and lying to the government about a superbly timed stock sale – a devastating verdict that probably means prison for the woman who epitomizes meticulous homemaking and gracious living.
Stewart was found guilty of conspiracy, making false statements and obstruction of justice. The charges carry up to 20 years in prison at sentencing June 17, but she will most certainly get much less than that under federal sentencing guidelines.Trading in the company’s stock was halted prior to the verdict announcement, but already indications are the company has lost 50% of it’s pre-verdict valuation.
NEW YORK, March 5 (Reuters) – The New York Stock Exchange said on Friday afternoon that shares of the halted Martha Stewart Living Omnimedia Inc. (MSO) were indicated between a bid of $8.00 and an asking price of $10.00. The stock last traded on Friday at $16.34 on the NYSE.