IBJ Report:Emmis stock closes at $1.53, avoids delisting
Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished trading above $1preserving the company's listing on the NASDAQ stock exchange.
INDIANAPOLIS - NASDAQ warned Emmis last month that it would be delisted from the exchange if the company's stock didn't rise above the $1 minimum for 10 days in a row; March 15 was the deadline.
The rebound began on Oct. 13, when shares closed at $1.14, up 24 cents from the day before. Prior to that, the stock hadn't closed above $1 in more than a year. It bottomed out at 24 cents in July.
I'm actually seeing a netural short term chart with a weak bullish right now on long term.....but I think today is just a crap day for radio stock....look at cmls and roiak....they both got murder today also
This is what we've been wanting to hear!! Just remember the old saying: buy on the rumor, sell in the news. We could be looking at a 50% retracement from the beginning of the recent rally to it's top. My math says that could take us down to $1.14, before moving to new highs again. JMHO though.