For Dynegy Inc., it’s way too early to party down, but the shunned wallflower of the energy merchant sector regained some of its former appeal to investors last week following some straight talk from the new CEO. Bruce Williamson, who assumed the helm just last month, offered a salve to the ailing company in his first conference call with analysts, inspiring confidence lacking for months in the former powerhouse energy merchant.
Shunned
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Dynegy CEO Rallies Investors, Stock Gains 75% in Heavy Trading
For Dynegy Inc., it’s way too early to party down, but the shunned wallflower of the energy merchant sector was more appealing to investors on Tuesday than it has been in months. A record 38.77 million shares were traded before the market closed, sending the cellar stock, which had opened the day at 77 cents, over $1 before noon. It closed at $1.35, a gain of more than 75%.
November 20, 2002
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