July 24, 2018 could be remembered for a long time as a pivotal day in the history of Beasley Broadcast Group, with respect to its publicly traded stock.
A steep slide in the company’s share value entered its second straight day, as investors turned their anger into share sales over the announcement that the Bordes family would be selling 3,126,147 shares of their Class A common stock at $7.50 per share.
That price was far lower than where Beasley shares sat on Friday, July 20. Today, it’s roughly $1 a share higher than where BBGI currently trades. CEO Caroline Beasley had a few words about this during her company’s Q2 2018 earnings call for investors, debt holders and financial analysts.