Massey Energy fell the Most in the SP500

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Massey Energy fell the Most in the SP500

Published on Wednesday, 25 August 2010 17:25 Written by Danny Miller

mee New York, August 25^th (Tradershuddle.com) – Shares of Massey Energy fell the most in the S&P 500 after its shares dropped 3.38% to $29.14.

Massey Energy (NYSE:MEE), the Richmond, VA based coal producer, fell along other coal producers as natural gas prices dipped below $4 per MMBTU, sparking speculation that power generators might switch to natural gas instead of coal as prices get cheaper. The drop came a day after the company said it received a citation for improperly stored explosives in the mine where 29 men were killed in an April explosion.

The drop came with slightly higher volume; sellers pushed the stock lower, with 5.2 million shares traded, 1.22 times Massey’s average 90day volume of 4.32 million shares.

The stock's 52-week low is $25.52 and its 52-week high is $54.80.

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