Applied Graphics Loses Large Magazine Contract
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The news did not help AGT's stock price, which was trading at more than $14 per share in June, and dropped to just over $9 following the news. But the news was not a huge blow: AGT stock is also up from a 52-week low of just under $6 in May.
The news was a surprise to industry observers, in part because only last month, AGT had moved its satellite office from the old Condé Nast building on Madison Avenue into the basement of the new Condé Nast skyscraper in Times Square. Quad is expected to move a satellite office into the Condé Nast building by the beginning of the contract in December.
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