Wall Street: Rambling Along

The stock market last week seemed to have only two gears—low and reverse. As a result it made a lot of commotion but little progress, opening the week at 671.77 on the Dow-Jones industrial index and closing at 672.52. But speeding along in overdrive was American Motors Corp. All week long, AMC stock was on the Big Board's "most active" list; in all, 687,500 AMC shares changed hands, pushing the price 1⅜ points to 20¼.

One reason for the popularity of AMC stock was its compact price. Even at last week's high, American Motors sold for less than half...

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