Standard Pacific Shares Hit 7-Year Low
Shares of Standard Pacific Corp. plunged to a nearly seven-year low Monday on growing concerns that the homebuilder won’t be able to cover its debt.
The stock of the Irvine, Calif., company tumbled $2.28, or 18.7 percent, to $9.91 in afternoon trading. Earlier in the session, shares plummeted to $7.51, a level not seen since the stock hit $7.50 on Aug. 29, 2000.
8 August 2007 | Business, Construction, General | Comments
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