This stock was dying to begin with. This has nothing to do with Limbaugh, but with management most likely.
Carbonite IPO’d in August of last year. After IPO, the share price settled at around $15 and has been dropping in a linear fashin since then to $8.71 as of this week.
Go to stockcharts and type in CARB for Carbonite.
http://stockcharts.com/h-sc/ui
It had a little to do with Limbaugh I am sure. Maybe not as much as most perceive. However, pulling their advertisement off Limbaugh’s network (the way they did it) has doomed their company and will hasten the decline. It drove a stake in the heart of the wounded beast.
If they would have removed their advertisement quietly and for financial reasons they would not have lost millions of dollars of revenue. It was a bone headed, knee jerk reaction that cost them tens of thousands of subscribers.
Incorrect. While it is true that Limbaugh is not the majority reason for Carbonite's imminent demise, the addition of the Limbaugh factor DOES make a difference.
It might not solely have to do with Rush, but the managements boneheaded decision is definitely a contributing factor!
Didn’t Carbonite stock drop 12% last Monday? Some of the credit would go to Rush, IMO.