Cumulus Stock Price
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Thread: Cumulus Stock Price

  1. #1

    Cumulus Stock Price

    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?

  2. #2
    Quote Originally Posted by wavo View Post
    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?
    Stock closed at $1.02 which is 24% down for the DAY! Today's low was $0.95...95 cents! Back to the same delisting problem they had before the reverse split. Incredible!!
    I'm curious...will tomorrow be a big buyers day for Cumulus? It is down over 50% since the split and the market cap is equal to about the cost of 1 major market FM radio station. Is there bad news around the bend or are some folks going to make a pile of money in the coming days?

  3. #3

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    The entire company is worth just over 30 million. Wow!

  4. #4
    Quote Originally Posted by microbob View Post
    The entire company is worth just over 30 million. Wow!
    Actual close today was $1.05, down almost 22% with 4 times normal volume. There was a lot of selling today!!
    Marketwatch shows their market capitalization at $60 million which is about what one of their NYC stations would sell for. That's a few million less than Entercom paid for 15 stations, most in major markets.

    CBS wrote off almost a half billion dollars in lost value last year and has vowed to rid itself of pesky radio (and all it's cash flow.) There are many other investors/companies who are running away from radio as fast as they can. We all know the pie slices have gotten smaller thanks to internet competition but is radio never going to be a growth business again? Are all the ideas exhausted...has everything already been tried...is radio mature, getting older, and heading for obscurity?

  5. #5
    Being down 18% in just 21 minutes without some disastrous news isn't something that should happen. Someone dumped CMLS stock in a hurry today. It's possible that some mutual fund company (Vanguard, Janus, whoever) decided to cut their losses today and sold all at once. Or the Dickeys sold a fraction of their holdings.

    I've thought about some CMLS shares. At this point, in the 1-3 year timeline either they recover and the stock shoots up, or they go bankrupt.
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  6. #6
    Quote Originally Posted by PTBoardOp94 View Post

    I've thought about some CMLS shares. At this point, in the 1-3 year timeline either they recover and the stock shoots up, or they go bankrupt.
    The only way they go bankrupt is if the investment company that holds the majority of its stock lets it collapse. They don't seem ready to do that yet. They're still pumping money into their hand-picked CEO. All that could change, or she could signal a new direction in the 11/9 call. But right now, they seem unaffected by the stock price.

  7. #7
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    Quote Originally Posted by PTBoardOp94 View Post
    It's possible that some mutual fund company (Vanguard, Janus, whoever) decided to cut their losses today and sold all at once.
    The top 8 mutual fund holdings represent only 0.5% of the total Cumulus stock float. The volume was about four times normal, but still represented only 0.026% of total shares being traded. In other words, a lot of flurry caused by a very few shares changing hands.
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  8. #8
    Quote Originally Posted by DavidEduardo View Post


    The top 8 mutual fund holdings represent only 0.5% of the total Cumulus stock float. The volume was about four times normal, but still represented only 0.026% of total shares being traded. In other words, a lot of flurry caused by a very few shares changing hands.
    Heavy volume is a good indication of insider activity or other unusual activity.
    Today did not produce the rally I expected - stock was up only 5%. For any other stock that would be a great one day return but following a -21% day, not so much so.
    A drop of 21% (it was down over 25% at points) on heavy volume IS a reason for questions and if you're a stockholder, a reason for concern.
    It will be interesting to watch the coming days to see if a buying spree develops.

  9. #9
    Quote Originally Posted by wavo View Post
    It will be interesting to watch the coming days to see if a buying spree develops.
    There are lots of other factors besides price that affect buying stock.

  10. #10
    Quote Originally Posted by TheBigA View Post
    There are lots of other factors besides price that affect buying stock.
    Of course there are many factors affecting stock prices and market interest. That is my question Big A...what has changed since the reverse split that has caused Cumulus stock price to drop like a rock. Can anyone identify ANY change that would make investors nervous or inclined to take profits/loss and move on?

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