A Soft End To November for Radio Stocks

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U.S. financial markets slumped on Monday, with the Dow Industrials falling 271.73 points to 29,638.64, and the Nasdaq slipping 7.11 points, to 12,198.74.


For media stocks, an 11% dip in value for Entercom put an ice cube on a stock that went into Thanksgiving Day on a hot streak.

With Monday’s Closing Bell, ETM finished at $2.43, down 30 cents from Friday.

That’s nothing to cry over if you’re an investor, as Entercom is still higher than at any point from June 8 through early last week, and at its second-highest pricing levels since the COVID-19 pandemic pummeled the U.S. in mid-March 2020.

Last Tuesday, a $2.73 closing price was seen for Entercom. That was repeated on Friday after a small dip ahead of the Thanksgiving holiday.