Investors were heading into the Thanksgiving Day holiday on a pleasant note, with general indices and many media company stocks recovering on Wednesday following two days of big drops.
Cumulus Media was part of the recovery.
At 2:34pm Eastern, Cumulus was off a penny, to $12.76.
But, at the Closing Bell, CMLS had improved and finished up 28 cents, to $12.88.
While volume was exceptionally small at 1,846 shares, it’s still disappointing news for the nation’s No. 3 radio company by number of stations.
Cumulus exited debtor-in-possession status with CMLS returning to regular trading on Nasdaq at $19.60. By August 27, a $20.90 close was achieved.
Since then, Cumulus shares have gradually decreased in value, leading to today’s fresh low.
Cumulus’ market cap is $212.32 million.
How did other media companies fare on Wall Street? Simply visit the Wall Street Report on the homepage of RBR.com.