A Bouncy First Day On NASDAQ For ‘IHRT’


As Thursday’s trading on Wall Street got underway, none other than Bob Pittman and Rich Bressler rang the Opening Bell for NASDAQ, in commemoration of iHeartMedia‘s full emergence from debtor-in-possession status and new trading under the ticker symbol “IHRT.”

It was an up-and-down session for the iHeart CEO and COO/CFO, respectively. But, iHeart’s Class A common stock finished its first trading session on NASDAQ in positive territory.

With an opening price of $16, IHRT slipped a bit within the first 15 minutes of trading. It then went up, and down, and gradually went up across the day.

Then, at 3:36pm Eastern, a sudden slide to $16.02 was seen; at 2:46pm IHRT had reached $16.50.

Thanks to a late rally, that’s exactly where iHeart shares ended up.

Volume was 1.82 million shares.

How did other media companies fare on Thursday? Find out by visiting the RBR.com homepage and viewing our Wall Street Report.