Why Did Atlantic Power Stock Drop 11.5%? [The Motley Fool]
ATLANTIC POWER CORP (AT)
Last atlantic power corp earnings: 2/27 05:13 pm
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Source: The Motley Fool
Why Did Atlantic Power Stock Drop 11.5%? Rich Smith ( TMFDitty May 9, 09 at :PM What happened Shares of Dedham, Mass.-based electric power provider Atlantic Power NYSE:AT The only news that emerged today was of the positive variety: A Form Image source: Getty Images. So what That sounds like positive news -- an executive putting his own money on the line to expand his investment in the stock. And yesterday's news was no worse: A press release announced an upcoming sale, in May 0, of Atlantic's Manchief power plant to a current customer for $. million. As Atlantic Power explained in the release, it will continue operating Manchief for the next three years, and continue "to realize the cash flows for the remaining PPA [power purchase agreement] term" before ultimately selling the plant for cash, which Atlantic will apply to "support continued debt reduction." Now what So why is Atlantic Power down after two days of nothing but apparently positive news? I honestly cannot say. Perhaps th
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