The common stock of Whirlpool Corporation hit a new 52-week low Monday, closing at $62.06, four cents above its intra-day low of $62.02. That’s more than 6% down from Friday’s close of $68.43.
WHR has been punished by Wall Street since its announcement last week of a more than $ 1 Billion dollar specialized stock offering designed to pay down debt and fund capital expenditures. Some shareholders have been critical of the Strategic Recapitalization because it dilutes individual stock value, at least in the short term.
