Cumulus Stock Hits A 52-Week Low, Closes At $1.05
Up In Early Trading Today
November 3, 2016 at 3:49 AM (PT)
It was a tough day for CUMULUS MEDIA at NASDAQ, as the company slipped to a new 52-week low yesterday (11/2). CUMULUS (CMLS) opened at $1.35, but slid to $0.95. At the closing bell, the stock was at $1.05 a share for a loss of 21.64%, with 186,840 shares of its stock trading hands.
CMLS is showing some life TODAY (11/3), with upward movement in early trading.
EQUITIES.COM reports, "Falling to a new 52-week low is never fun for company's shareholder, but, depending on who you ask, it can be either a buy or a sell signal. Someone bearish on the stock might see it reaching its lowest price in a year as a sign of growing downward momentum and make sure they sell their shares. Bulls, though, are more likely to see a new 52-week low as the stock hitting its low point and anticipate a bounce in the share price. However one plays it, it's often a critical moment for any stock and should be noted by investors."
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