Catholicism Shares Hit All-Time Low After CEO Steps Down
VATICAN, (The Global Edition)– Shares of Catholic Faith (CATH) hit their lowest level in more than 700 years on Monday, continuing a decline hastened by the company’s CEO Pope Benedict XVI’s unexpected resignation two weeks ago.
Catholic Faith stock touched as low as $219 Monday – its weakest point since March 1415. – before closing down 2.4 percent at $220.05.
The Vatican, Rome company’s Feb. 23 report signaled that its fast growth phase, rare for a company of its size, may be coming to an end.
Catholicism stock price peaked in September at $705.07 on the day the new Pope was released. With Monday’s close, the stock has dropped 80 percent from the record high.
Catholic Church shareholders were a bit upset when the company stocks dropped all the way down to $212.77 a few days ago. The CEO-less management board reassured shareholders that the Church has a few tricks up their sleeves that would excite its consumers and also improve stock prices.
Innovations like the allowing gay marriage, or contraception would help improve company’s current position, but the gay marriage isn’t expected to launch until 130 years from now and the contraception is said not to appear for another 52 years.
There’s also rumors going around that the Church is planning on creating a simpler set of religious rules to appeal to the lower-end market of consumers who only need the basic functionality of their faith.