Wednesday, May 5, 2010

Gaylord's stock takes a bounce higher this morning on Wall Street

Gaylord Entertainment Co.’s stock price bounced back slightly this morning from a nearly 8 percent slide in Wall Street trading on Tuesday amid concerns about how long the company’s flagship Gaylord Opryland Resort and Convention Center will be out of commission because of flooding.
Gaylord officials said it could be "several months" before the convention center hotel is back on its feet.

The company plans to hold its shareholders’ meeting, an annual event, on Thursday morning, and a conference call with stock analysts Friday morning to update Wall Street on the situation.

Gaylord CEO and Chairman Colin Reed has not been available for interviews.

Gaylord’s stock was trading at $28.15 per share this morning, up 48 cents. That’s after a slide of $1.46 per share or nearly 8 percent in New York Stock Exchange trading a day earlier. Late last month, Gaylord’s stock was at or above $34 per share, so it has lost about $6 in value in the past week of trading, but seems to be stabilizing.

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