Alert: Sympathy Play To SBSA Is ROIAK
Spanish Broadcasting System Inc (NASDAQ:SBSA) is up another 20% today. The stock has soared over 100% in the last four trading days after reporting better than expected earnings. This run is a combination of solid earnings and an epic short squeeze. While this stock is too extended to play, Radio One, Inc. (NASDAQ:ROIAK) is the obvious sympathy play. The chart is hovering near the 52 week lows and is in the same sector as SBSA. This makes sense on many levels but lacks the volume to get attention. Watch for a volume surge and then momentum traders to pile in. Upside potential is north of $1.50 if this gets started.