Holy Smokes Gus!

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Not more than 8 hours after I posted my lament (see below), this happens:

Investors Bail Out On Citadel

Citadel Communications got a bailout of sorts Thursday (March 5), but not the type that comes from the feds and means stacks of cash rushing in. This was investors cashing out their shares of CDL, which opened its last day of trading on the New York Stock Exchange at a dime a share and ended at the closing bell at a penny.


Folks at Citadel’s Manhattan headquarters could not explain the change of heart investors had in the company’s value, but the 90% drop in value was marked by a dramatic increase of trading volume — some 18.5 million shares were sold compared to a 30-day average volume of 739,000 shares traded.


Read the Article


Can’t explain it!?! You’re about to be de-listed from Nasdaq!