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Cumulus Media Inc. (CMLS) Message Board

  • longtimefollower longtimefollower Nov 3, 2009 4:11 PM Flag

    Incredible comeback.

    Closed only down a nickel, at $2.20. Pretty good, considering that it closed up yesterday.

    Far cry from the low of $1.56 today, which was shocking. Some idiot basically sold 20,000 or so "at the market," and got hosed....and got this thing off on the wrong foot.

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    • I added about 6% more CMLS today, for a trade. I also bought back some ETM that I sold before earnings.

      Both did worse than I had hoped for this quarter, but still look like decent values especially considering their big pullbacks.

      In the longer run, if you agree with both CEOs who stated that they believe 2010 whill show significant revenue growth from 2009, then ETM and CMLS should drive higher from these levels over time. The cost cutting that has already taken place should lever revenue growths effect on the bottom line. And both CEO's also stated that the vast majority of the cost cutting are now built into the system, so as revenues grow, these costs will not return.


    • I pity the fools who sold.

    • Longtime,

      I think you are not too happy with me, and with my reaction to CMLS's qtr. I am amazaed that CMLS did way better than ETM today. I would stick by the statement that ETM's managment of its leverage allows me to sleep much better than the way CMLS is managing its leverage.

      But in any event, the market spoke today. Dont know if I will be re-entering CMLS. At this very moment I dont intend to.

      I am impressed that you held the fort.


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