Why Clear Channel Outdoor Stock Tumbled Today

Clear Channel Outdoor Holdings (NYSE: CCO) saw its stock fall 12.6% on Friday to just $0.78 per share on no discernible news. And as it heads into its next earnings report, expected in the first week of May, the outdoor advertising specialist may become more volatile.

The billboard company is facing several problems, most prominently an economy stricken by the coronavirus pandemic that is leveling outdoor advertising because travel is virtually nonexistent.

You don't need a billboard to see that Clear Channel Outdoor is in trouble. Image source: Getty Images.

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Source Fool.com