After we called attention on Friday morning to Barnes & Noble’s disclosure of two SEC investigations, market reaction was swift (and by most standards excessive). The stock fell by approximately $2 a share on heavy volume of over 7 million shares, closing down about 12 percent for the day, at $14.43 a share. You could posit that investors are worried that the investigations might pose a distraction to management — but that’s where the beauty of a company that runs itself with no ceo to be distracted ought to help out. Almost as swift as the sell-off was a wave […]
