American Skiing stock hits 6-cents-a-share low

NEWRY – American Skiing stock plunged to its lowest level ever for a brief period before recovering on Wednesday.

The over-the-counter stock hit a low of 6 cents a share after a block of 3 million shares was sold in the largest single transaction in the history of the stock, said Brad McCurtain of Maine Securities.

McCurtain suspects the seller was the state of Wisconsin pension fund, the largest single owner of common stock.

Overall, more than 6 million shares changed hands on Wednesday. The stock bounced back and by day’s end it was trading at 17 cents a share, a penny above the opening price.