Nortel, how low can we go.

I’ve been reading Mark Evans great All About Nortel Blog. It’s a great resource for Nortel analysis, by someone who’s been watching them for years. After last weeks awful results the stock has taken a noticeable slide.

Most people remember when Nortel’s share price was below a dollar – not long after Nortel consolidated the stock by doing a 10 for 1 back split (i.e. for every 10 shares you owned you’d get one new Nortel share), thus the once $1 stock would be a $10 stock.

Today, the stock is at $7.94 or at a pre-adjusted share price of 79.4 cents. Mark said this was the worst the stock had performed (that he could find) since October 2002, based on my records Nortel hasn’t been at these levels since September of the 2002.

The all time high for Nortel shares (split adjusted) is from July 26, 2000 at $1,231 a Share (the price that day was $124.) the low point was on September 27, 2002 when it closed at 83 cents but hit a daytime low of 70 cents. That would mean the stock hit an (split adjusted) low of $7.00 my records only go back to 1995 (where it was at a split adjusted $57.50) so if it goes below $7.00 thats the lowest it has ever been.