iHeartMedia: Thesis Intact
Update - July 10, 2023 The big iHeartMedia rebound continues with another 8% gain today. The stock appears set for a gap close to $7. Original article posted on June 2 iHeartMedia, Inc. reported a weak Q1 2023, but the key adjusted EBITDA number beat guidance. The media company grew crucial podcast revenue at a 12% clip despite the tough ad market. iHeartMedia stock is priced for an economic collapse, while the company has been busy buying their debt at a discount. This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More » The advertising market has been tough in the last year, but the bullish investment thesis in iHeartMedia, Inc. ( NASDAQ: IHRT ) remains intact. In fact, the stock has fallen all the way to $2.50 despite the company still being on pace to throw off substantial cash flow in the years ahead to repay their large debt load. The stock shouldn't be trading at th...