CHAMPCAR/CART: CART stock slumps

In more than 29 times average volume, shares of Championship Auto Racing Teams, Inc. (NYSE: MPH) closed the week at $9.24, 48.18 percent off its 52 week high of $17.83, and 73.6 percent below its all time high of $35.00 set in the second quarter...

In more than 29 times average volume, shares of Championship Auto Racing Teams, Inc. (NYSE: MPH) closed the week at $9.24, 48.18 percent off its 52 week high of $17.83, and 73.6 percent below its all time high of $35.00 set in the second quarter of 1999.

In mid-May, CART relocated its 23-year old corporate headquarters from Troy, Michigan to Indianapolis where it moved into 64,000 square feet of office and warehouse space at 5350 Lakeview Parkway South Drive. The company reported that prior to its relocation 10 of 14 racing teams competing in its FedEx Championship Series had been operating out of shops in the Indianapolis area. After Friday's market close, the company declined comment on stock market activity.

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Series Automotive , IndyCar