It’s been a frustrating eight years for long-term holders of Cumulus Media stock. In September 2016, a reverse stock split plan that would see one share divided into eight parts was put into motion. The act was tied to a Nasdaq delisting warning, should the company not get “CMLS” above the all-important $1 threshold.
Next year could see history repeat itself, as the company led by CEO Mary Berner and CFO Frank López-Balboa has again received notice from Nasdaq regarding its sub-$1 stock price.
