PlanetOut Stocks Sink After Sale Announcement

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Gay media company PlanetOut lost even more luster yesterday.

Shares of PlanetOut Inc. sank to an all-time low Tuesday after the media company… said it may sell itself.

PlanetOut shares fell $1.45, or 23.4 percent, to $4.75 in early afternoon trading. Earlier, the stock traded as low as $4.65 _ its lowest since a reverse stock split in early October.

A PlanetOut spokesman wouldn’t tell the Washington Blade whether any companies have come knocking.