Peaks and Valleys

Homebuilder Standard Pacific Corp. has seen them both in the past few years.

A peek at the valley:

The image pictured here (from Google Finance) shows changes in Standard Pacific's stock price from 1988 to the present. The "mountain" of stock growth peaked in the summer of 2005. Compare this peak in stock price to the 1990s market cycle.

Nov. 21, 2007: Price hits new 52-week low, at $2.09 (Yahoo Finance).

Dec. 12, 2007: The company announces an increase in the number of shares of capital stock that the company is authorized to issue, from 110 million shares to 210 million shares.

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