this year before today

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thuhoai

Senior Member
Vietnam
Hi , everyone

Lehman Brothers Holdings Inc., this year's worst-performer on the Standard & Poor's 500 Index, fell as much as 46 percent after four analysts said they cut their recommendations because the firm's credit rating may be lowered. Lehman fell $3.25 to $4 in composite trading on the New York Stock Exchange. Shares of the New York-based firm dropped 89 percent this year before today.

I find it difficult to understand this year before today.

Could you please explain it.

Thanks
 
  • Fabulist

    Banned
    American English
    It would have been clearer if the original had said "had dropped 89 percent." Doing the math in the other direction, Lehman Brothers' stock price must have been:
    January 2 (or the first trading day of 2011; NYSE closed on New Year's): $36.36
    The day before "today": $4.00
    Close of trading "today": $3.25
    The drop of $32.36 is 89% of the price at the beginning of the year, and what is necessary for the stock to have dropped "89 percent this year before today."
     
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