Citadel Broadcasting Corp. is currently trading at $0.05, after trading as high as $0.059 a share earlier today. The stock is up $0.025 a share, up 100 percent for the day. The strong upsurge in price occurred on massive volume of nearly 10 million shares, which is well above the normal daily volume of about 472,000 shares. Citadel Broadcasting was first mentioned in the QualityStocks FREE Daily Newsletter back on December 18, 2009. At that time, the stock was trading at only $0.0166 a share.
Citadel Broadcasting is a pure-play radio company and is the third-largest radio broadcaster in the United States. With a strong national footprint reaching more than 50 of the nation’s leading markets, the company operates 165 FM stations and 58 AM stations. It also owns Citadel Media, formerly ABC Radio Networks, which creates and distributes programming to more than 4,400 affiliates.
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