Massey Energy stock sinks 11% after mine explosion
[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2010/US/04/06/west.virginia.mine.explosion/smlvid.mine.rescue.wchs.jpg caption="An explosion at one of Massey Energy's coal mines in West Virginia killed at least 25 workers and left 4 missing." width=300 height=169]
Julianne Pepitone
CNN Money
Shares of Massey Energy plunged more than 8% Tuesday, one day after an explosion at one of the company's coal mines in West Virginia killed at least 25 workers and left 4 missing.
The blast took place at the Upper Big Branch Mine, about 30 miles south of Charleston, during a shift change Monday afternoon.
Massey (MEE) stock was down 11% at 1:15 p.m. ET Tuesday. Still, the company's shares are up almost 20% year-to-date. Massey's headquarters are in Richmond, and the company operates 44 mines, making it the fourth largest coal company in the U.S.
The cause of the explosion, the deadliest U.S. mining disaster in 25 years, was unknown Tuesday.
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Filed under: Energy • Mine Blast • stocks • What You Will Be Talking About Today |
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