Shares of news and publishing company McClatchy Co. were up as much as 12% in afternoon trade on Thursday. There was no obvious news surrounding the company. Market insiders seem to believe the move was related to investors covering short positions. Shares of McClatchy have declined nearly 49% in the year to date and 61% in the last 12 months. By comparison, the S&P 500 index has gained 9% in the year and more than 12% in the last 12 months.
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From:: Stock Market News