Shares rise as COO's resignation said not sign of woes
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Posted 7:15PM on Thursday 5th December 2002 ( 22 years ago )
NEW YORK - Shares of Healthtronics Surgical Services Incorporated rebounded strongly Thursday after Wall Street concluded that a top executive's resignation is no indication of company troubles. <br>
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Wednesday, Healthtronics, a provider of urologic and orthopedic services, disclosed that president, chief operating officer and director Roy Brown would resign his posts. <br>
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Investors -- shell-shocked by a year of negative headlines involving corporate executives -- wasted no time selling off the stock even though the Marietta company said the departure was for personal reasons. The stock lost 6.8 percent Wednesday. <br>
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However, by Thursday, market participants viewed the announcement in a different light, sending shares up 15 percent, or 97 cents, to close at $7.31.
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