Alcatel-Lucent (NYSE: ALU) is a stock where we just saw a major price alert this morning, although not from our normal US channels. The company’s shares in Europe are now under the 1.oo euro mark. That price of EUR 0.96 does not constitute a sub-$1.00 stock here as the ADR’s trade at $1.19. This looks like the first time that these shares have been this low in Europe. The US trading range is (was, actually) $1.23 to $7.67, and it was between $10 and $15 in the just eighteen months ago and most of the 3-year period before that. The reason that the “sub-1.00” level is important in euros is because the stock trades more than 21 million shares overseas, which is almost three-times the volume we now see in the U.S. This one has now been cut in more than half in three months.
JON C. OGG
MARCH 3, 2009
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