Fulton Financial Corp. yesterday issued an unusual public statement to quash chatter that was affecting its stock price.
Fulton Financial Corp. yesterday issued an unusual public statement to quash chatter that was affecting its stock price.
In the statement, the Lancaster County financial-services company denied a rumor that it was concerned about the liquidity of a bank subsidiary that has been forced to buy back troubled mortgage loans.
Fulton wrote that it had been informed such a rumor had been posted on a Web site, causing volatility in its stock. Fulton shares dropped from the $13.50 range to below $12 around midday but recovered by the close of the stock market, according to Yahoo Finance.
Today, the volatility is on the upside: Fulton shares were up more than 4 percent as of 10:14 a.m., to $15.10, according to Yahoo.
