On February 2, shares in the nation’s No. 1 audio content creation and distribution company reached $8.70. It was a glimmer of hope that the company’s stock would return to above $10, where it had comfortably been across the first half of 2022. In fact, one year earlier, the stock closed above $20.
Now, four years and four months since emerging from a Chapter 11 bankruptcy reorganization, iHeartMedia shares have hit a new low, extending a particularly difficult 2023 for the company’s Nasdaq-traded issues.
