A Soft End To November for Radio Stocks


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.