Wall Street enjoyed a strong start to November, as the Dow Jones Industrial Average surged 1.1% to 27,347.36. Nasdaq was also up 1.1% to 8,386.40. Most media company stocks were up, too.
Unfortunately for Beasley Broadcast Group, a fresh 10-year low was seen.
On volume of 32,124 shares, compared to average volume of 25,746 shares, BBGI slipped another precious penny, ending the week and starting November at $2.86 per share.
With a 1-year target estimate of $4.75 set by Wall Street, and Q3 earnings scheduled to arrive on Thursday, Beasley is in need of a spark for its stock.
Investors can only hope its latest quarterly results will provide that.
BBGI has been in a year-long funk, with shares starting the year at $4.59. However, that’s nothing compared to the 1-year, five-year and 10-year charts for Beasley.
On Oct. 29, 2018, BBGI was at $6.61. Five years ago it was at $5.31. A decade ago, it was at $3.62 and climbing out of a huge hole in the midst of the severe economic downturn that plagued the U.S. economy.
BBGI is now at its lowest closing price since June 2009.