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Wednesday, September 16, 2009

Don't look now, but radio stocks are hot on Wall Street

Radio company stocks hit historic depths in the last 12 months on Wall Street, but the recovery is certainly underway. In just the last 90 days, shares of SiriusXM (SIRI) went from 32 cents to 68 cents a share, a more than 100% gain. Radio One (ROIAK) quadrupled in value, from 22 cents to 87 cents. CBS Radio (CBS) went from $5.78 to $12.46 in just over two months, while Cumulus (CMLS) has nearly tripled (50 cents to $1.42), and Emmis Communications (EMMS) has more than tripled (25 cents to 84 cents) in that same time. The stocks of Spanish Broadcasting (SBSA), Entercom (ETM) and Regent Communications (RGCI) have all tripled in value in the past 90 days, while Journal Communications (JRN) and Salem Communications (SALM) have quadrupled. You can check the latest quotes for these stocks by clicking here.

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