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Cumulus Stock Price Closes 10% Higher Thursday

February 17, 2011

The news of the impending sale of Citadel to Cumulus for $4 Billion rocked the stock Thursday. CMLS jumped nearly 11% on the news, closing at $4.78. The stock reached a high Thursday of $5.78 before closing at $4.78. Volume on the stock was insane. Normally, Cumulus averages 63,000 shares traded. Yesterday the volume was nearly 2.6 million. Is it time to be a buyer?

 


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