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Emmis Stock Spike?

J

J.J. James

Couldn't help but notice that after months wallowing around 25 to 30 cents a share, Emmis stock Friday suddenly shot up to 78 cents.

Anyone have any insight into why this happened? ???
 
LOL! Maybe someone got around to figuring out how much the real-estate and physical towers were worth and decided that it was worth at least 70 something cents. At this point I truely wonder why some corporate raider type wouldn't see that the stock prices have sunk to a point that just buying up things and holding them for a few years and selling things off piece-meal would be very profitable in many cases. As bad as terrestrial radio's programming is, there still are plenty of listenership still out there and advertisers to pay the bills. We just got too spoiled with printing money over the years and that eventually led to stupid prices for properties when the sold. If the current stock holders take a bath on things, I can see radio recovering nicely sometime in the future.
 
And down 25% today in a massive market move upwards.

There had to be some news item, but I haven't seen any. Weird.
 
I think the Cox privatization story may have played a part. Smulyan tried to take Emmis private a few years ago. Now with Cox making the move, I imagine he's interested in trying it again. Same with Cumulus.
 
OKCRadioGuy said:
LOL! Maybe someone got around to figuring out how much the real-estate and physical towers were worth and decided that it was worth at least 70 something cents. At this point I truely wonder why some corporate raider type wouldn't see that the stock prices have sunk to a point that just buying up things and holding them for a few years and selling things off piece-meal would be very profitable in many cases. As bad as terrestrial radio's programming is, there still are plenty of listenership still out there and advertisers to pay the bills. We just got too spoiled with printing money over the years and that eventually led to stupid prices for properties when the sold. If the current stock holders take a bath on things, I can see radio recovering nicely sometime in the future.
Click to expand...

I have a little bit of money to invest and I've been thinking about stocks like citadel, clear channel and emmis. But there are warning signs like Googles revenue, that went down by 50% in the fourth quartet last year. So I will wait at least 6 months before I decide to buy radio stock.
 
pocket-radio said:
Spike came as investors sold off their stock writing it off as a loss on their taxes.
Click to expand...

That would drive the price down; tax planning selling usually takes place towards the end of the year.

In addition, tax loss credits are used mostly to offset capital gains, as the stand alone deduction is limited to $3000 a year. Since nearly nobody has any capital gains, this whole thing is a moot point.
 
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