Carbonite Messed With Rush and Investors Fired Back…Carbonite Stock Plummets
Don’t mess with Rush or the Dittoheads may screw with you. Citing great offense over Rush’s Sandra Fluke remarks, Carbonite’s CEO pulled its advertising and issued a loud statement of protest on its website Saturday. Even though Rush Limbaugh apologized. Too bad for Carbonite…its investors made a loud statement of their own when the market opened on Monday.
According to the Daily Caller,
On Saturday, Carbonite CEO David Friend released a statement on his company’s website declaring that Carbonite had decided to “withdraw” advertising from Rush Limbaugh’s radio show in the wake of his controversial remarks involving Georgetown Law student Sandra Fluke because it will “ultimately contribute to a more civilized public discourse”:
Even though Mr. Limbaugh has now issued an apology, we have nonetheless decided to withdraw our advertising from his show. We hope that our action, along with the other advertisers who have already withdrawn their ads, will ultimately contribute to a more civilized public discourse.
However, it hasn’t done much to contribute to his company’s stock price. Since the market opened on Monday through its close today, Carbonite stock (NASDAQ:CARB) has plummeted nearly 12 percent, outpacing the drop of the NASDAQ index in that same time period by nine-and-a-half points. It was also one of the biggest decliners on the NASDAQ on Tuesday.
Carbonite may have just ended its future in computer backup.
Hat Tip Flownover