Entercom Communications on Monday launched an audio network that includes broadcast radio stations and its Radio.com platform expressly for the sports gaming community.
It followed the November 2020 closing of Entercom’s all-cash purchase of sports data and iGaming affiliate platform QL Gaming Group (QLGG).
Investors liked the programming move. With 15 minutes remaining in Tuesday’s trading on Wall Street, ETM had climbed to its second-highest value in the last 12 months.
At the Closing Bell, Entercom shares were priced at $4.445, up 4.8%.
Volume was slightly higher than average, at 3.07 million shares.
After an initial drop in value at the Opening Bell, ETM took off like a rocket, reaching $4.46 at 10:26am Eastern.
Trading softened slightly, only to pick up again in mid-afternoon.
As the Closing Bell approached, ETM’s activity increased, as did the slight price fluctuation.
Entercom’s short-term, mid-term and long-term performance outlooks are all “favorable” to Wall Street analysts.