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August 9, 2011

In the midst of a steep market decline, Forest City Enterprises shares plummet nearly 25% over five days

Atlantic Yards Report

Forest City Enterprises shares went from $17.63 at the opening, Tuesday, August 2, and closed yesterday at $13.24. down 13.46% for the day.

By contrast, the Dow Jones Industrial Average was down 5.55% and the iShares Dow Jones U.S. Real Estate Fund was down 8.51%.

Forest City's stock is down 24.9% over five days, as shown in the first chart, via Morningstar.

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NoLandGrab: Given FCE's reliance on government hand-outs, it's no surprise that the specter of fiscal austerity would spook stockholders.

Posted by eric at August 9, 2011 10:33 AM