Company’s stock has fallen 9 percent since Friday — last day of trading before $315 million buy
AOL's stock closed down 1.4 percent on Wednesday — the third straight day it's declined since the company's blockbuster $315 million acquisition of the Huffington Post was announced at the Super Bowl.
The stock fell to $20.50 per share on Wednesday — or 39 cents — after opening at $20.89. The dip follows 1.8 percent drop on Tuesday (from $21.27 per share to $20.89) and a 3.5 percent slide on Monday (from $21.96 per share to $21.19) after the deal was announced.
On Friday afternoon, AOL's stock was trading at $22.44 per share. It's fallen close to 9 percent since then — an indication that Wall Street investors are not as sold on the logic of bringing Arianna Huffington in to run the struggling portal's editorial as much as media critics are.
The slide in its stock price is equivalent to roughly $207 million of AOL's market value since Friday, or about two-thirds of what it paid for HuffPo.