Dead Air: Why Radio Stocks Should Not Be Touched
In a market where hardly any stocks are worth buying, Cramer took time on Monday’s show to highlight what he thinks are someof the biggest sells out there: the terrestrial radio companies.
Clear Channel , Cumulus Media, Entercom , Saga , Beasley , Cox Radio . These stocks are so intrinsically broken, Cramer said, that they are not fit to own even when the broader market rebounds.
The average market cap of terrestrial radio companies has declined by a staggering 80% over the last five years. But the bottom isn’t even in yet, as far as Cramer can tell.
Either way, the bottom line remains the same. Cramer expects the terrestrial radio companies to go down harder than almost anything else and he would not own any of them under any condition right now.
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