Carbonite Stock Craters as company drops Limbaugh as spokes person
(RIDGEWOOD -NJ) March 7 2012 On Saturday, Carbonite CEO David Friend released a statement that his company Carbonite had decided to “withdraw” advertising from Rush Limbaugh’s radio show in the wake of his controversial remarks involving Georgetown Law student activist Sandra Fluke because it will “ultimately contribute to a more civilized public discourse”:
Apparently investors felt differently for the mediocre data backup company and sold the stock off aggressively after all how were they going to replace sales from Rush's huge 15-20 million member audience ,given so much new competition has arisen from the likes of Microsoft and Google offering for free what Carbonite does for a price . Since the market opened on Monday through its close yesterday, Carbonite stock (NASDAQ:CARB) has dropped nearly 12%, outpacing the NASDAQ index in that same time period.. Carbonite was also one of the biggest losers on the NASDAQ on Tuesday.
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