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Why Shutterstock's Stock Shuttered Today

TheMotleyFool

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Why Shutterstock's Stock Shuttered Today: https://g.foolcdn.com/editorial/images/877178/hand-stopping-dominoes-from-hitting-piggy-bank.jpg

Shares of (NYSE: SSTK) plummeted to an all-time low on Wednesday. The stock was down by 29% at 2:45 p.m. ET, as Getty Images (NYSE: GETY) walked away from the Shutterstock merger it announced in January.

The deal didn't survive regulatory requirements.

The British Competition and Markets Authority asked the companies to exclude Shutterstock's editorial services from the merger. Including it would result in a "substantial lessening of competition" in the field of U.K. journalism, according to the regulatory body.

Source Fool.com