December 31, 1999 |
Ants Software.com stock fell 34% after the 20-year-old software developer said that it sold stock valued at $4.8 million over the last two months at below-market prices. Ants fell $7.13 to close at $14 in trading volume 24 times the daily average for the stock. The shares, which fell as low as $5.50 in early trading, were as high as $55.63 last week. On Wednesday, Bloomberg News reported that Santa Barbara-based Ants sold about 500,000 shares of restricted stock at an average price of $9.