Stock plummets 16% after negative blog post

c2sat You’ve heard the arguments against blogs. They have no influence. No-one reads them. And should a blog have influence it is only the few really big ones. Yeah, tell that to the people that own stock in C2SAT, which manufactures antennas for satellite communication. Their stock plummeted 16% today after a Swedish blogger posted a critical blog post last night.

Urban Bryngeld writes a blog, “Fiskeb├ąten Polar”, about the fishing boat Polar GG 505 which is equipped with an antenna from C2SAT. Last night he posted a lengthy post about a series of problems with the antenna and the lack of support from the company. This morning when the stock market opened, the C2SAT stock traded at 1.42 SEK. At about 2.30 PM it was down 30% to 1.00 SEK, but then managed to climb up to 1.19 SEK at the end of the day, at total drop by 16%.

The Fiskeb├ąten Polar blog has no (0) subscribers in Bloglines. C2SAT got whipped by the long tail.

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