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Citadel stock is a penny a share!

L

LA_Guy

Let's make a pool and buy a bunch of Citadel stock. I'll kick in 20 bucks-enough for 2000 shares. if we can get up to ten grand, we'll own a significant share of the company-enough that maybe they'll give us the Providence stations.

Right now their total market cap is 2.5 million dollars! That means that if you take all their stock and multiply it by a penny, it equals 2.5 million dollars.

Let's get to it, everyone! Employee owned stations in RI works for me!
 
Oh boy! Oh boy! Oh boy!

Only problem is.....

With the stock you also get a mountain of DEBT.

Congratulations!
 
hahahahahaha. I don't mean to laugh. Oh wait. Yes I do. hahahahahaha.
But I'm really not laughing at the company. I'm laughing at how surprised I am to see this. What The F? I'm sure glad that I didn't buy into this company. I bought Sirius instead. Oh wait. That's not funny. I'm not laughing anymore.
 
MarcB said:
Ok. I'll kick in a few bucks too. And I'll move the CHR format from 92.3 to 99.7/106.3 and move the hip-hop format to 92.3
Click to expand...
WTF!?! Expound on this and tell me how this makes any sense....you'd mess with over 35 years of history just to move a format that doesn't do well in the market in the first place and severly hurt the station that consistently is in the top 3. You guys are severly tapped sometimes....
 
An even bigger outrage? Their other AM630...

I had JUST moved to Washington in 1984 when our (WTOP) softball team played WMAL (now Citadel's other AM630).
The diamond was at WMAL's transmitter site in Maryland.
Even back then, developers were offering gazillions-of-dollars for that land, right on the Beltway.
Back then, radio stations were already (still) real, real valuable.
And the-land-underneath-the-towers was worth even more than the license.

Now the whole company -- WABC/KABC/KGO/WJR/WBAP/WPRO/ABC Radio Network/etc., etc., etc. -- is worth $2M-and-change.

If you just piled up ALL THE COFFEE MACHINES from all those stations, they'd be worth more than two million dollars. But the debt on those coffee machines is what clobbered the company when the recession came.

HC
www.HollandCooke.com
 
I'm way ahead of you LA Guy ;).... placed my order over the weekend, bid $0.05 per share, snagged 2,000 shares at $0.057 ea. Going back in for another couple of thousand, most I can lose at this rate is a couple hundred bucks - even if I go hog wild and buy the shares by the wheelbarrow. Blown more than that on dinner out with Holly! We're about to start doing the same with real estate out here in Sunny CA.... prices have rolled back to 2000/1 levels and are stablizing (short sales and repos actually get higher than asking now).

Time to go dump picking and be ready for the next boom cycle.... unless Obama gets us all nuked or living on bugs and roots.
 
Re: UPDATE-UPDATE-UPDATE

Holland Cooke said:
Six months later: 56 cents!

DID anyone load-up @ 1 cent?
Click to expand...

Nope. I was to busy laughing. Now I'm crying. Thanks a Lot! Could have turned $1,000 into $56,000. But looking back who could have predicted? Same thing happened to Sirius. The stock hit 4 cents a share. But now it's about 65 cents a share. Oh well. That's life! I can't help but to ask if you bought in to Citadel stock when it was 1 cent a share Holland? Did you load up (or) did you take a pass and now just want to know that there are others here to cry with? lol
 
Re: UPDATE-UPDATE-UPDATE

Skynet74 said:
That's life!
Click to expand...

That's what people say.
You're riding high in April...shot-down in May...

Skynet74 said:
I can't help but to ask if you bought in to Citadel stock when it was 1 cent a share Holland? Did you load up (or) did you take a pass and now just want to know that there are others here to cry with?
Click to expand...

I was already loaded-up.
I was chasing-it-down long before it hit a penny...but not-as-long-as 56 cents.
And you bet I felt like D.J. Dummy sitting-on-a-pile-of-it @ 1 cent.
But, hey, is 56 also a bargain?

When-the-dust-settles, WON'T that station portfolio be worth lots more?
 
.56 still sounds like a bargain. But if I didn't buy at 1 cent a share I probably won't buy at 56 cents. Why you ask? Because I'm a big dummy!
 
Oh you mean 0.56 as in less than 6 cents a share? I thought you meant 56 cents? I know that Sirius was at 4 cents. Not it's over 60 cents a share. So I thought it was more than possible for Citadel to be the same kind of deal. Around 60 cents! But if you are saying it's only 6 cents a share, I don't feel nearly as bad anymore.
 
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