Will put this on "super strong buy" at $2.25 or less. I'm still looking at something like 65 cents in EPS this year, so we are at little more than 3.5x earnings.
With CMLS management having access to $500M in equity capital, and another $500 M to borrow against, for new investments, I have no idea why they wouldn't use the whole enchilada, and take out the entire CMLS debt, and take out the common holders. I think $5 is the right price for that, a full 100%+ premium over the current price, and close to the old highs. If Smulyan still wants EMMS at $2.40....I don't see why CMLS shouldn't want to take itself private at $5.
It it drops to $2, I'll do everything I can to lift my position by at least another 1/3 from my current holding.
This kind of retracement is flat out absurd. But who's crying....it's time to RELOAD and be RE-REWARDED! (I sold somewhere around half of my previous peak position, on the run up to $5.)