In late-afternoon trading on Monday, Saga Communications shares were off by 2%, to $41.55.
Then, the bottom fell out, with “SGA” stock sliding 11% in after-hours trading after the Closing Bell rang on Wall Street.
Saga started Tuesday’s trading on $37.75. Even with a midday rebound, it’s an unusual dip for the media company, which is shedding its TV assets to refocus on small- and medium-sized radio stations.
Why could investors be sour on Saga?
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