Salem’s Latest Wall Street Stumble


Tuesday proved to be another difficult trading day for Salem Media Group.

At the closing bell, shares were down a nickel to $2.78 a share. This puts Salem nearly $2 below its 1-year target estimate and ends a small rally from a Christmas Eve low.

Volume was low, with just 16,783 shares traded. But, normal trading volume is light, with 57,837 shares trading hands on average.

With a price target of $4.75, Salem has a long road ahead after falling to $2.10 a share on Christmas Eve.

Since then, shares had been on a slow incline. But, they sputtered at $2.86 earlier this month.

On July 2, Salem was priced at $5.95 per share.

Q4 and full-year earnings are expected from Salem on March 14.