Gray Media Inc

Despite its Stage 4 decline, GTN is mean-reversion eligible in an oversold, multi-year trough zone. Oversold exhaustion signals near key support open a bullish medium-term window, but price remains below declining EMAs. Execution is deferred: monitor for pullback acceptance into 9/21 EMAs or a reclaim of moving averages before buying.

• ↑Q2 revenue rose 8.7% YoY to $839M, driven by $83M political ads
• ↑Adjusted EBITDA grew 27% to $214M, lifting operating margin to 16.2%
• ↓Forecasted ~9.4% annual EPS decline signals profit contraction risk