This stock is like a broken record every day (pun intended)...a pop in the price in the morning, followed by a negative close by 4pm.
The 2nd qtr conference call is in a couple of weeks, and from the looks of this relentless march into the basement it's my guess that it won't be good news.
Frankly, even I am surprised that the institutions aren't stepping in to pick up some shares at this point. But then again, if the US is headed into a recession, do you really want to be holding a wheelbarrow full of stock that makes it's money from ADVERTISING??!?!!? Retail in the US is going to be seriously hurting by Fall, so how the heck are they going to sell all that ad time?
Worse still, their major stations are in rust-belt states like Wisconsin and Ohio and the NorthEast. At least they have a major station in a military town (Norfolk), but is that going to carry the entire company???
The writing is on the wall, and I have been pointing out the signposts along the way. If you get a bounce out of this stock that will let you cut your losses, I strongly suggest that you take it.