Beasley Broadcast Group shares finished the second day of trading of the third quarter with a six-cent dip, to $3.24.
It was a step backward for the owner of radio stations that has seen considerable year-to-date weakness on Wall Street — with most of the downward movement coming in the last 30 days.
With Tuesday’s close, is heading back toward lows not seen in a decade for Beasley — a much different company today than in 2009.
Even BBGI going ex-dividend on June 27 couldn’t drum up a big rebound for a stock that started the year at $4.17, climbed to $4.86 on January 14, and has been on a slow and steady fall ever since.
The bottom seemingly came June 17, when trading brought Beasley shares as low as $3.
On Monday, BBGI had been as high as $3.47.
In fact, at 2:10pm Eastern Tuesday, shares were at $3.37.
It was a late plunge, seen within the final 30 minutes of trading, that is worth noting.
Beasley is roughly one month away from sharing its Q2 earnings.
It remains to be seen where BBGI will be at that time.
