30%+ gain on Cumulus Media (CMLS). Yay!
Congrats all those who picked up CMLS mentioned in our recent Q322 outlook. The company is buying back shares at a minimum price of $14.50. That's a quick 30% gain in a week.
The free Q322 outlook is honestly the best free market outlook out there.
We cover macro and advanced technical analysis in ways that give all the big houses a run for their money in both market timing and stock picking.
Our defensive value portfolio given at the beginning of the year has outperformed the benchmark S&P500 by ~ 30%. Since the beginning fo the year, if you equal weighted the stocks in that portfolio, you are up 11% while the SPX is down -20%.
If you overweighted our top 2 picks, ET and VST, you will be in better shape as they are up 30% and 12% in the very bearish 1H22.
Anyway, back to CMLS.
We added CMLS as a suggestion during our recent 3Q22 outlook. The company is buying back shares from it's shareholders at a price between $14.50-$16.50 in a reverse dutch auction.
Note that they are spending $25M of their $50M buyback program.
This means that they will eventually do something similar to this again.
For those who didn't get in prior, there is a chance this happens again and the $14.50-$16.50 region becomes a reference price for the next one.
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