Did anyone notice that about 90,000 shares traded the last 30 minutes and the MM's only moved it a penny? That's a lot of shares relatively speaking for this stock. I wonder who they were holding it there for. I have a feeling if there's a decent day in the market, this will fly tomorrow.
I certainly hope so. I bought 125,000 shares between $1.24 and $1.35 today. I think CMLS is probably the most undervalued radio stock out there now. Could earn $1.25 in EPS next year, fully taxed, which suggests it is selling for little more than ONE TIMES next year's earnings. Meanwhile, the terms of their debt waivers seem surprisingly "generous," so it seems pretty clear that Mr. Dickey has a good relationship with his banks.
I see $2-3 in the fairly short term...and possibly $4-6 in the first half of next year.