I have often asked my self why a particular stock didn't have more sell ratings from Wall Street analysts, so it was quite refreshing to discover that I was not alone in my musing regarding New York Times . Over at BloggingStocks.com, Jonathan Berr asks this very question, and I must say that I agree wholeheartedly that there should be more negativity levied against the shares. Sure, Zacks reports that 7 of the 8 analysts following NYT rate the stock a hold or worse, but only one of those is an actual sell rating.
Furthermore, as Mr. Berr puts it, Wall Street has put a 'sell' rating on the stock a long time ago. Shares of the New York-based publisher are down more than 33% for the year. Taking this technical aspect a bit further, NYT has plunged more than 66% since February 2004, declining steadily under the resistance at its 10-month and 20-month moving averages. What's more, the stock is now trading at a level not seen since 1996.
While Mr. Berr has his speculations as to the reasoning behind this lack of bearish ratings, I still find myself stumped. So, I'll leave you with the question, and feel free to email me if you have a good explanation: Why aren't there more sells on NYT?