The volume tells me that there is a big seller is definitely here with very little regard for the price received for his/her shares. Whether or not it is related to this recent filing is somewhat irrelevant to me (though it sure does seem to make fit the circumstances).
CCME has been under constant selling pressure and short interest buildup since the first 10-K. I think I speak for many when I say that I am fed up with the share price action while management sits on this mountain of cash and seems to be doing very little with it. We were supposed to be adding 8k busses this year, but unless there is a massive addition late in the year we aren't going to hit that number, not by a long shot. There has been no hint about any other acquisition plans and no attempt to use the money to stabilize the share price.
Given the current valuation this has to be the worst run, well run company I have ever seen :) In all seriousness, I simply don't understand why management still has not acted. Everyone who emails Jacky (myself included) gets the same response - "That is interesting, we will consider all options" type of BS.
I don't think asking them to use $20 million of their $150 to save this stock is being unreasonable. Do you?
