This is about as ugly a week as we’ve ever seen for our worst-performing stock.
Shares of Orchids Paper Products Co., which produces consumer products like napkins and toilet paper (much of it in Pryor), reached a new bottom last week.
TIS shares were shredded, falling more than 80 percent after the company said it refinanced a loan to provide more time for the firm to find a buyer, and that it had lost a major client.
The stock, which closed the previous week at $4.23, ending trading Friday at 80 cents. That’s an all-time low.
Last summer, the stock hit an all-time high of more than $35.
Orchids reported a $6.9 million loss in the second quarter as its profit margins continued to contract.
Such a dramatic fall might lead some to surmise that TIS is circling the drain.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.