A Big Slide For iHeart On A Big Day For Stocks

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U.S. financial markets soared on Tuesday, as the Dow Jones Industrial Average gained 196.14, to 21,899.89, and the Nasdaq composite index surged 84.35, to 6,297.48.


Yet, iHeartMedia‘s “stub” of publicly traded shares sailed southward in a major manner, finishing down 15%, to $1.53. Trading was heavier than normal, at 9,390 shares; average volume for the OTC Pink Sheet-traded shares is 5,184 shares.

The slip for iHeart stock comes five days after the company announced its 11th extension to its private term loan offers.

As of 5pm Eastern on Aug. 16, an aggregate amount of approximately $45.5 million of Existing Notes — representing approximately 0.6% of outstanding Existing Notes — had been tendered into the Exchange Offers.

That paltry percentage hasn’t budged for weeks.

The iHeart dip clouded gains from such TV companies as The E.W. Scripps Co. and TEGNA.

For a complete look at today’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.


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