GCI Liberty Shares Drop as GLIBA’s Liberty Capital Move Feels Squeeze
Liberty Capital Corp shares dropped 3.3% Wednesday. Investors still know it as GCI Liberty Inc. The GLIBA Series A stock finished at $20.50 in after-hours trading in the U.S. Series C shares, GLIBK, matched the drop, last trading at $20.55. Investors are still figuring out how to price the newly named company, now part Alaska network operator and part Liberty-style investment vehicle. The company finished its name change from GCI Liberty to Liberty Capital on May 21 but kept the GLIBA and GLIBK tickers. The Alaska operation will keep using the GCI name. CEO Ron Duncan said the new name points to “expanding investments at the parent level beyond our core Alaska business.”