Got two cents?
Don Day | March 5, 2009Citadel Communications stock finished the day at $0.02, plunging almost 90% on the day. The stock was dumped from the NYSE last Friday and is now traded over-the-counter.
That puts Citadel’s market capitalization at a puny $2.70 million… meaning if you could wrangle all the sellers – you could buy the company for less than $3 million
And with my impending Powerball victory on Saturday, I will Don, I WILL.
(My new 401k plan is paying out more than my last one. I won $5 yesterday.)
3 mill won’t pay El Rushbo’s licensing fees.
Buying it one thing. Paying for “Farid’s Folly” is something totally different.
WOW…
So I could in theory purchase the entire firm for what one radio staion might have sold for a few years ago…
Thanks Congress for the 1996 Telecom Act…We have come a long way baby!
Hey, if you have a hundred bucks and want to share in the fantasy and have perhaps an EXTREMELY long horzon line for your investment return….this might be good deal.
And if you own the stock you get to attend the annual shareholder meeting…Oh, the potential there!!!!!
Buy cheap now, sell later.
“Hey, if you have a hundred bucks and want to share in the fantasy and have perhaps an EXTREMELY long horzon line for your investment return….this might be good deal.”
I had that EXACT same thought, including the hundred buck amount. Hell, if it goes to 50 cents, you’d be damn near rich!
The-
I am stock stupid….
that means I have no ownership of any stocks and I sleep SO WELL AT NIGHT!…
but anyway sorry to those of you who have lost their asses in their own investments etc, but anyway….
how does a person go about buying shares of this or other depressed stocks…If my education serves me correctly you can buy in lots of 100 shares….
Anyway enlighten me please….THANKS.
Sadly many on us believed the dream in, and up to Citadel’s last managers meeting where(as it was explained to me) Farid Suleman was shouting TWENTY DOLLAR STOCK PRICE! For years the employees believed and invested in the 401k program and for years the only match was Citadel stock. At lease in most other 401k plans I have heard about, there was only a forty percent drop since the economy tanked. For those unlucky enough to have worked for Citadel the 401k match loss is 99.9%. Hard to believe there is any good news on the horizon.
An easy way to get stock is thru Scottrade… Sign up for an account, send them a check. They’ll sit on it awhile as it’s processed then your in business. My broker was skeptical about “penny stocks” OTC pinks blah, blah. stock talk stuff. I think it’s a great gamble. There’s to much EGO in radio to let it die in the next 5 years.