On Feb. 17, 2020, iHeartMedia shares were priced at $17.82. Then came COVID-19.
By the end of March, IHRT had shriveled to $4.87 per share. Questions about iHeart’s ability to see profits amid a flurry of advertising cancellations and “hold for now” calls arose. An early June rally fizzled just one month later.
Then came Election Day 2020. Since then, iHeart shares haven’t stopped growing.
The question is now is … now what?