Dan River won't speculate on stock activity
January 28, 2004,
DANVILLE, Va. — Today the New York Stock Exchange asked Dan River to issue a public statement indicating whether there are any corporate developments which may explain the "unusual activity" in the company's stock.
Almost 1.5 million shares changed hands in unusually heavy trading yesterday, raising Dan River's stock almost 40 percent. So far today, the stock has given up some of its big gain, sliding back by $0.15 per share to $1.12 in mid-afternoon trading — a double-digit drop of 11.8 percent. More than 1 million shares had traded hands by mid-afternoon in a second straight day of unusually heavy volume.