Cumulus has hit an all time low today. As of 30 minutes before the closing bell, Cumulus is trading at $1.15/share with heavy volume three times normal. That is a drop of 14.5% from yesterday's close.
That price translates to the before reverse split price of a little over $0.14/share. 14 pennies!!
Anyone have any inside info on the earnings call on 11-9? Are sentiments generally negative regarding the chance Cumulus will hold on and return to profitability? Any theories, gossip, innuendo?