In April, when we wrote up out thoughts on Entercom, we were swimming against the tide. Short sellers were rampaging claiming the company would collapse during Covid-19 under the weight of its debt. The share price was plunging.
But we thought their analysis was faulty. We believed the podcast and radio business would emerge safely from Covid-19. Plus we observed insider buying suggesting it was more than our belief.
And the insiders are still buying
We are happy with the 88% gain so far, but we believe the shares in Entercom (NYSE:ETM) have a lot more upside in the future - so we are holding on.
Not Investment Advice
As always, this is not investment advice. Do your own research. Consult your professional advisors.