Bank of America Capital sold roughly a million dollar’s worth of Cumulus stock on Monday, just as several Security advisory firms just started touting Cumulus Nedia stock as something you should want to buy
Meanwhile Lew Dickey recently gave himself 4.6 million 10 year CMLS stock options exercisable at $5.92 a share
The stock closed on Tuesday at $7.65 a share which means Lew basically gave himself $10 million of stockholder equity. Isn’t capitalism great?
I need to check and make sure none of those dam mutual funds in my 401K don’t have any ‘Cumulost’ .
parrott
Mutual funds typically have rules limiting the fund manager from investing too much (typically 5% or less) in any single stock. I wouldn’t lose any sleep over that unless it’s a morality issue.
I wonder how much Cumulus stock Opie and Anthony bought? They were given $100,000 worth each before…and by the time they left the company, it was worthless.