Running for Cover
Here are a few lines from an article by Andrew Tangel at the North Jersey Record:
“ProLogis, the world’s biggest industrial REIT, sought protection from short-selling on Monday. The Denver company has 14 properties in New Jersey, according to its Web site, including properties in Oakland, Lyndhurst and Carlstadt. A spokeswoman did not return calls.
ProLogis’ stock added $2.24, or 5.7 percent, to end at $41.49 Tuesday on the New York Stock Exchange. The shares have dropped 35 percent this year. ProLogis’ market cap is $10.9 billion.”
Click HERE to read the full article. The stock rallied on Tuesday but closed down to $39.32 on Wednesday.
