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By Trevor Jensen
CHICAGO–The decline of The Leap Group’s stock since its offering in October does not represent the true worth of the company, the chairman and chief executive officer told shareholders at the public company’s first annual meeting last week.
The stock was issued at $10 per share and quickly dropped to about $6. Chairman Rick Lutterbach blamed the decline on institutional investors known in financial circles as ‘flippers,’ who buy and sell quickly based on an initial upward blip in a stock’s price without regard to the company’s value.
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