xNew World was the day's largest loser, closing at 2, down 1 or 33.3%. No reason for the drop of its stock was immediately apparent. Kenetech's drop was less of a mystery, occurring on the heels of its announcement that Jean-Yves Dexmier had resigned as chief financial officer, effective immediately. Kenetech was the day's ninth largest loser, closing at 4 1/4, down 1 or 19.0%.
The company's Bud Grebey says Dexmier resigned over "different expectations" of the scope of his responsibilities. Grebey would not comment on the speculation that the resignation was the fall out of Dexmier trying and failing to oust board chairman Gerald Alderson in August.