Cumulus Media, which operates the radio network Westwood One, is set to announce its Q1 earnings on May 1. However, the company has decided to leave the Nasdaq exchange and transition to OTC trading, owing to its stock's decline below the $1 threshold. At present, shares are trading at $0.20, reflecting significant volatility. This change facilitates direct trading between buyers and sellers without extensive regulatory oversight and provides a safety net for stocks that struggle to maintain their market value.
Cumulus Media's move from Nasdaq to OTC trading showcases the volatility of their stock, which currently trades at $0.20, raising concerns about their financial stability.
The shift to OTC trading allows companies like Cumulus, whose stocks fall below $1, to bypass stricter trading regulations, indicating a potential safety net for troubled stocks.
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