Is someone still trying to unload a bunch of shares here?
Someone took a block of 50,000 that was being offered at the ask yesterday. One would have thought that that "signal of buying demand" might have taken the stock up, but it didn't go anywhere, and volume was otherwise listless for the rest of the day.
My sense is that there is still a seller out there that is looking to get out of a position. Not sure how many shares it is, or how long, but I do think the stock, eventually, if and when they close on the deal to sell the radio stations, will be back at $1.00-1.05, which is good for a solid 50%+ move.
The Street seems to be discounting as high as a 50/50 possibility that the deal falls through. But I would say it is more like 5%.