The nation’s second-largest radio station ownership, which on June 30 completed a 1-for-30 reverse stock split in the hope that it could regain NYSE trading compliance for falling under $1 for too long, has worsened its ability to shift away from an Over-the-Counter Pink sheet trading option.
With 15 minutes left in Tuesday’s trading, Audacy Inc. shares had plummeted by 31% from Monday’s close, putting the company founded by Joseph Field as Entercom in a precarious position.
