Cumulus Stock -- No Volume Yesterday Sets Off Rumors
February 4, 2010 at 4:45 AM (PT)
What happened with CUMULUS (CMLS) stock? The stock closed at $2.52/share on TUESDAY, and NASDAQ reported zero trading for the stock on WEDNESDAY (2/3).
An unusual occurrence? Yes! And, that sent the rumor mill into overtime.
CUMULUS Pres./CEO LEW DICKEY told ALL ACCESS, "We didn't have a single trade in our stock (2/3) until after hours trading which begins at 4p. Volumes have been extremely light for the sector over the past couple of months and we just happened to have no trades during regular hours.
"If for some reason, we or any other public company halted trading, we would have to issue an 8K and the exchange would have to issue a release as well. You just gotta love the rumor mill!"
In early trading this morning, CUMULUS stock is down slightly.
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