It’s been a rough ride on Wall Street of late for Entercom Communications, the radio broadcasting company that engineered a tax-free merger with CBS Radio and now owns such storied stations as WCBS-FM in New York, KROQ in Los Angeles and KYW in its home market of Philadelphia.
From late February through mid-July, Entercom shares were largely above $6 a share, dipping below $5.25 per share just once.
Three weeks ago, ETM dropped off a cliff — from that $5.25 mark. With shares going ex-dividend Wednesday, could investors have benefited by buying up shares on Tuesday? Simply Wall St. suggested it wasn’t a good idea. The market listened.