Someone's Finally Buying The New York Times!

It took long enough, but it seems the New York Times Company has finally found some friends with deep pockets who don’t think the stock is going to zero.

Over the past week, as the stock market has cratered, the New York Times Company’s stock has held steady at about $4.  Today, with the market bounce, it’s up about 15%. 

The volume has spiked, too: Well over than 1 million shares a day for the past 10 days, with a couple of huge days.

So someone’s buying NYT.  Who?

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.