Spanish Broadcasting System has seen its stock price jump this week. Fellow Hispanic broadcasting specialist Entravision has also gained significantly since News Corporation announced plans to launch a Spanish Fox network, MundoFox, in the US – but for SBS the stock price boost could erase a delisting threat from Nasdaq.
SBS faces a March 13th deadline to get its market capitalization back up above $15 million to keep its Nasdaq stock market listing. It is there now, with plenty of room to spare, and only needs to keep its stock price up for a few more sessions to put together 10 business days in a row and negate the delisting threat.
At that $7.36 price, the market capitalization for the publicly traded Class A SBS stock was slightly more than double $15 million. And while the stock gave back some of those gains on Wednesday, it still has a pretty good cushion to try to put together 10 straight sessions above the $15 million capitalization mark. The stock closed Wednesday at $7.06.
SBS recently provided an early report of strong revenue gains for Q4 of 2011.
RBR-TVBR observation: We had reported previously on how SBS had slipped from when it did a reverse split to try to shore up its stock price. In recent days, though, the stock price has been back above the post-split mark of $6.24. It took a long time, but the momentum is finally positive again.