miami garbage company fails to regain footing

Posted on August 24, 2012 by mcooper

Shares of Swisher Hygiene in mid-afternoon trading on Thursday were down 52 cents from last Friday’s closing price, which preceded an announcement Monday that President and CEO Steven Berrard was stepping down. Shares (NASDAQ: SWSH) were trading at $1.55, down 1 cent on Thursday, which put shares 4 cents from their 52-week low of $1.51 on May 16. Trading volume this week has been higher than the three-month average of 528,389 shares: 1.5 million shares on Monday, when the biggest drops this week occurred; 860,400 shares on Tuesday; and 637,500 shares on Wednesday. As of mid-afternoon Thursday, volume was 417,273 shares, more than 100,000 shares below the average. Swisher, a Charlotte, N.C.-based hygiene company, has many South Florida shareholders since Berrard and Chairman H. Wayne Huizenga previously led Autonation (NYSE: AN) and Blockbuster in Fort Lauderdale. Berrard and Huizenga each have a 25 million share stake in the company. Swisher is in the process of restating financials for the first three quarters of 2011.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

Miami Web Design