With almost a million shares traded today the test of the support of a dollar was well tested. Good buying opportunity. Should start to move up from here. I look for price to end the year at $2.00 or better.
Mr. Smulyan's last takeover offer was for $16.00 per class A common share which was blocked by a Indiana court which sided against him because of his majority control came from special voting rights of the class of shares he owns in EMMS. He's insisted in conference calls when they used to have them, that the $16.00 offer was still "on the table". Since the economy is taking a turn for the better I have been expecting a new buyout offer but feel it will ultimately be higher than $2.40.
At $ 2.30, it's hard to believe that only a couple of weeks ago price was just a dollar. EMMS is on a roll. Just hope that sales, earnings and any future projection by management justify the enthusiasm.
Agree. I picked up another 80,000 or so shares on Friday....at prices as low as .9899. (Strangely, I placed an order to buy 25,000 at .9999, right after the close, when the ask was that price, and they filled me at .9899.)
This is probably the most undervalued radio stock, at this time. I don't see why it can't be $4-8, in 18-24 months.