Yesterday Entercom stock (ETM) lost yet another 20 cents driving it to within 50 cents of being a $4 stock.
I have said many times over that the market knows a bad deal when they see it and from virtually the moment the CBS merger was announced Entercom stock crashed from the $16 range to $5.53 where it closed yesterday.
I’d like to have a dollar for every CBS survivor or victim purged by David Field who warned that Field was screwing up a merger so good all he had to do was essentially stay out of the way.
That didn’t happen and now even more information is coming forward to confirm that many if not most of what’s wrong with Entercom comes from forced errors that did not have to happen.
What’s worse, there are more huge mistakes that even investors don’t know about until this morning.
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