Submitted by Bob Burton on
As we have reported previously, Medialink Worldwide -- the largest producer of fake news products such as video news releases (VNRs) and audio news releases (ANRs) -- has fallen out of favor with investors. On May 27, the company's stock closed at just 89 cents. "NASDAQ rules require companies to maintain a minimum closing bid of $1 per share. Failure to do so for 30 consecutive business days runs the risk of delisting," writes Tonya Garcia in PR Week. Medialink Chief Financial Officer Kenneth Torosian attributes the share price crash to the recent sale of 900,000 shares by Pequot Capital. However, the company's shares have been falling consistently over the last year, dropping by 75 percent since the beginning of 2008. At the end of March, Medialink announced that its board had approved a plan to purchase 150,000 of the company's own shares, in a bid to counter "recent volatility in the financial markets."
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