I do have a position, but it is less than it once was.
We are clearly in a situation where earnings and other fundamentals matter very little. If this MRQ's numbers couldn't move the stock then IMO it is because there is not enough retail interest to counter the lack of institutional interest. Perhaps that tide is slowly turning, but it is very disappointing that it hasn't turned sooner.
To the point of my most recent post, if earnings mean very little as it relates to generating shareholder value, perhaps CCME should consider some alternative ways of spending some of their mountain of cash - namely combating the shorts that are weighing this stock down.
I may have sounded very facetious, but I wanted to illustrate the point that since SPAC this stock has been in a very predictable pattern - run by the shorts. I suspect that the rangeboundness of CCME has also turned off many institutional investors, which creates a cyclical pattern. Big earnings > little action > rangeboundness > institutional investor interest fizzles. It is management's job to solve that problem. They have to find creative ways to market themselves or otherwise make the stock attractive to institutions and unattractive to shorts. Otherwise we keep on with this malaise.
As I type this the NASDAQ is up .77% and CCME is down 1.5%. We are only a few trading days after blockbuster earnings. Sheesh.
