With 30 minutes to go in Wednesday’s trading, BBGI was down 4.9% to exactly $2.8251 with volume nearly three times its average.
If the closing price dips below $2.82, a new 10-year low for Beasley Broadcast Group stock will be affirmed. BBGI shares haven’t been this cheap since summer 2009.
That’s when, at the height of the U.S. economic crisis, BBGI was climbing out of a disastrous hole, with shares falling to just 88 cents.
While Beasley had its ebbs and flows on Wall Street over the next decade, the company’s big rebound came in 2017. Things were strong through mid-2018, too.
Then, the bottom fell out, with shares tumbling from the low-$11 range in June 2018 to $3.75 just six months later.
With a market cap of $78 million, Beasley has a 1-year target estimate of $4.50 in place.
BBGI hasn’t been near that price since January.