American Airlines’ parent company, AMR Corp., announced today that it had filed for Chapter 11 bankruptcy protection. AOL DailyFinance summed up the effect on investors:
AMR’s investors got a nasty little shock after the announcement, as the company’s stock price slid from a close of $1.62 per share on Monday to $0.23 on Tuesday morning. Over a longer timetable, AMR stockholders have had an even worse year: In January, the stock was trading at $8.85.
Here’s how that last sentence looks in a line graph, compared with the overall performance of the Dow Jones Industrial Average (via Google Finance). The Dow (red line) has remained largely flat, while AMR (blue line) has declined 95%:
See larger version here.