Until last Thursday (7/16), Salem Communications shares were largely moribund, trading at $1.05 — 45 cents where they started 2020 and up from a COVID-19 fueled low of $.69 seen on May 13.
Then, on Friday, Salem shares suddenly rose, and the growth continued through Monday’s Closing Bell. It brought SALM to its highest closing price — $2.13 — since June of last year.
On Tuesday, the magic faded for Salem’s stock.
