The Soaring iHeart Stock Story

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Don’t look now, but iHeartMedia stock is on a hot growth streak.


At the Closing Bell on Wednesday, the company soon to emerge from debtor-in-possession status saw its stock price jump another 12 cents — an 8% gain. It’s now at $1.60.

Some 207,430 shares were traded. That’s well above the average volume of 33,200 shares seen for “IHRTQ” — the ticker symbol that indicates iHeart is in debtor-in-possession status.

However, its emergence from bankruptcy is coming — and investors are responding.

In fact, iHeart shares spiked to $2.40 at 10:34am before moderating and finishing at its closing price.

The activity could have been in response to market chatter that a major transaction was about to happen. That deal involves several iHeart markets, with Cumulus Media selling six stations and swapping three others in a series of deals involving Entercom and Educational Media Foundation.

With today’s close, iHeart shares are at their highest level since June 2017.

2 COMMENTS

  1. What does this mean
    I heart radio is selling & the stock is soaring
    It say that the stocks may be diluzted & new shares to be issued
    Does anyone know

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