Spanish Broadcasting System shares dipped 20% on Thursday, on volume that was about average.
What does that mean for SBS? That’s what many market observers may be asking, as the company comes precariously close to a matching its stock’s all-time low, achieved in December 2017.
With Thursday’s Closing Bell on Wall Street, SBSAA shares are at 16 cents.
This puts SBS on track to meet — or perhaps surpass — a low of 13 cents seen on December 4, 2017.
A “comeback” of sorts was seen in Q1, with a 59-cent close for SBS seen on March 19.
It’s been all downhill for SBS since then, with a 15-cent close seen on Sept. 7.
Meanwhile, on Sept. 11, 2017 SBS shares were valued at $0.90.
With a 1-year target estimate of $19, SBS has a long way to go to achieve the goal.
But, there is some positive news for SBS: One month shy of the 35th anniversary of the commencement of operations, SBS has been officially certified as a Minority Business Enterprise (MBE), in compliance with the criteria established by the National Minority Supplier Development Council (NMSDC).
The certification was announced by Terrence Clark, President/CEO of the New York and New Jersey MSDC.