BOC - Why Boston Omaha Stock Fell Today
2023-05-24 15:36:00 ET
Shares of Boston Omaha (NYSE: BOC) are down almost 7% at 2:23 p.m. ET on a pretty bad day for most stocks. At this writing, the S&P 500 is down almost 1% as investors watch the debt-ceiling negotiations play out in seemingly slow motion in Washington D.C.
At least a portion of Boston Omaha's sell-off is tied to the aforementioned negotiations over federal spending and debt. Boston Omaha is one of a handful of companies that issues few press releases, and it's been almost two weeks since anything of substance came out of the company.
But what we learned on May 12 when it filed its first-quarter results with the Securities and Exchange Commission (SEC) could have something to do with today's sell-off: the potential risk of holding what has become the gold standard of safe assets: U.S. Treasuries . According to its filing, Boston Omaha held almost $58 million in Treasuries at the end of March; that's well over half of its working capital.
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Why Boston Omaha Stock Fell Today