The Publishers Weekly Stock Index fell 7.2% in April as share prices dropped for 11 of the 14 companies on the PWSI. The stock price of Chegg, after rising 11.1% in March, pulled back last month with its price dropping 24.7%, the biggest decline among PWSI stocks. Barnes & Noble’s stock price tumbled 21.5%, largely due to negative investor reaction to the decision by B&N chairman Len Riggio to sell a chunk of his B&N shares. For the second consecutive month the share price of Amazon took a big hit, this time after the e-tailer released a first-quarter report that showed another operating loss for the company despite a jump in revenue. At one point following the release of its quarterly results, the stock price had fallen below $300 before finishing April at $304.13. Between the beginning of 2014 and the end of April, Amazon’s stock price fell almost 24%.
|Company||Mar. 31||Apr. 30||% Change|
|Educational Dev. Corp.||3.62||3.80||4.7|
|Houghton Mifflin Harcourt||20.33||20.43||0.5|
|Barnes & Noble||20.90||16.40||-21.5|
|Publishers Weekly Stock Index||615.33||570.90||-7.2|
|Dow Jones Aver.||16,457.66||16,580.84||0.7|