With all attention on a proposed Notice of Proposed Rulemaking that would potentially erase the current 39% national cap for TV broadcasters, one big radio broadcasting company saw its stock tumble to a new low in Tuesday’s trading on Wall Street.
That company is the fiscally troubled Cumulus Media, which saw its shares finish at 26 cents on higher-than-average volume.
The fall for Cumulus comes as the “stub” of publicly traded shares of iHeartMedia fell by 10%, to 90 cents.
Meanwhile, wildly volatile AI company Veritone Inc. saw its shares slump by 8.4%, to $21.31 — erasing all gains seen since Sept. 8.
The fall in shares at Veritone comes after the company announced the pricing of an underwritten public offering of 975,000 shares of its common stock at a public offering price of $23 per share.
For a complete look at today’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.
