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NEW YORK - Shares of newspaper publisher A.H. Belo Corp. hit their lowest point since the stock began trading earlier this year during Wednesday's session, as declining circulation and competition from the Internet continue to bleed newspaper stocks.
In a volatile day for the stock, A.H. Belo shares fell to an all-time low of $6.03, a price not seen since the stock began trading in late January. Shares then rallied to close higher by 55 cents, or 9.1 percent, to $6.61.
Shares of A.H. Belo, which publishes the Dallas Morning News and other newspapers and news Web sites, have lost about two-thirds of their value since they began trading at $20. The company was spun off from Belo Corp., which is now solely a television company, in late January.
Like A.H. Belo, other newspaper stocks have suffered sharp declines this year as the industry struggles to compete with declining advertising sales, circulation and increased competition from the Internet.
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