The Company directly, and through its ownership of associated companies, publishes 56 daily newspapers in 23 states and more than 300 weekly, classified and specialty publications, along with associated and integrated online sites.
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Warren Buffett bought at a price range of 1.11 - 1.72. Doubled down in June. Comments on Seeking Alpha said he was awarded the equity through a debt lien, hinting he MIGHT be a seller of the common stock, since it could just be meaningless to hold onto.
Whatever his intention, only Buffet knows. But what is undeniable, is the momentum the stock has been experiencing due to his inflationary effect on the shares. (Shares are also up 125% ytd).
I am betting that enough investors out there will get excited seeing "Buffet" and "1.59/sh" in the same glance to keep this momentum going further. I am speculating that the excitement will push the shares up to the mid 2s - 3+ range.
So this is a pure spec play, not an investment. Currently have a very small position. Lets see what happens.
Lee