Cumulus Stock Explodes After Early Earnings Release

[wavo]

Cumulus shares have taken off today after an early earnings report release. Volume is already at over 5000% typical volume and at almost 8 million shares traded. Share price jumps from opening at $0.33/share to $0.66/share (shortly before noon 10-26-17)
What is going on?
I have only seen a brief synopsis of the released earnings but see nothing that explains an almost 100% price increase and the extreme volume. Is there an agreement with lenders to restructure debt?

 

[TheBigA]

It's a well worded press release. Very optimistic. Flat revenues are better than losses. But that wouldn't make me buy stock.

https://radioink.com/2017/10/26/cumulus-expects-flat-slightly-revenue/

 

[Y2kTheNewOldies]

https://news.****************/cgi-bin/rol.exe/headline_id=b15268

here is an update

Cumulus Media
Cumulus Media has received a notification from NASDAQ indicating that, as a result of the company's non-compliance with NASDAQ listing rules, shares of its Class A common stock will be delisted on November 22. This after the bid price closed below $1.00 per share for the last 180 business days without regaining compliance. However, Cumulus has been approved to trade on the OTC market under the same ticker -- CMLS -- beginning November 22.