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.