LEE: Lee Enterprises Inc
Many sectors were priced for disaster or bankruptcy during this bear market. Newspaper and media companies were on of this sector. The sector has been going down since 2007. Many newspapers have closed down. Most have cut cost and have struggled to survive. But in last few months such stocks have made big moves from their beaten down levels.
Many were priced below a buck or around a buck. So 500% plus moves are common in this sector.
This sector started rallying in July. GCI earnings was the catalyst for the move. Today the news of GCI pre announcement has this sector finding a second wind.
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