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Toronto Star parent company’s stock plummeting
Business & Finance

Toronto Star parent company’s stock plummeting 

TorStar, the company that owns the Toronto Star, has seen its stock plummet to historic lows. This came after the company reported an unexpected loss of $40.9 million. This financial hit is so extreme that the company may have to shift the balance of power amongst the company’s shareholders, according to BNN Bloomberg. 

The company’s publicly traded shares dropped to 53 cents, the lowest ever for TorStar. By midday, the shares had recovered to 60 cents, largely due to TorStar’s damage limitation tactics, including telling shareholders the company will weather the storm.

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