SBS Can’t Stem Its Stock Slide

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Spanish Broadcasting System suffered another brutal trading session on Wall Street Tuesday, with shares in “SBSAA” ending the month of January with a 13.6% dip, to $1.08. SBS’s stock has been in a free fall since its Jan. 19 debut on an over-the-counter market, where it began trading at $2.40 a share. SBS’s market capitalization is presently $7.03 million, and company executives declined to respond to RBR + TVBR’s requests for comment at this time.


Meanwhile, the clock has started ticking once again for Cumulus Media, which saw its shares slip 1.2%, to $0.998 – just below the $1 threshold it needs to stay above to avoid another delisting warning.

But, Saga Communications continued its stellar performance with a 2.4% jump, to $50.30. Saga’s shares are at their highest point since October 2013.

Overall, it was a mixed trading day with Nasdaq up 1.07 points, to 5,614.79, and the Dow Jones Industrial Average falling 107.04, to 19,864.09.

The RBR Radio Index fell 10.330, or 1.86%, to 545.895. The TVBR Television Index rose 5.019, or 0.51%, to 985.347.


Gainers

Saga, up 2.4%

Entravision, up 1.9%

Radio One, up 1.7%

 

Decliners

SBS, down 13.6%

Salem, down 7.6%

Emmis, down 1.3%

 

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Adam R Jacobson is a veteran radio industry journalist and advertising industry analyst with general, multicultural and Hispanic market expertise. From 1996 to 2006 he served as an editor at Radio & Records.