Gray Television, Inc. (GTN): A Bear Case Theory

We came across a bearish thesis on Gray Television, Inc. (GTN) on Enterprising Investor’s Substack by Tyler Moody. In this article, we will summarize the bears’ thesis on GTN. Gray Television, Inc. (GTN)'s share was trading at $4.69 as of Nov 15^th. GTN’s trailing and forward P/E were 3.13 and 1.13 respectively according to Yahoo Finance.

[caption id="attachment_1208660" align="aligncenter" width="768"] A television broadcaster preparing a new Spanish-language program for its viewers.[/caption]

Gray Television (GTN) presents a highly risky investment, burdened by structural...