With the 2020 U.S. Presidential Election’s official results determined on November 8, 2020, financial markets promptly roared in approval on Monday, Nov. 9, 2020. Among the company’s starting their COVID-19 induced slumps on Wall Street was Audacy Inc., formerly Entercom.
Things looked good for Audacy, at first. Then came the Ides of March. Since then, Audacy shares have slumped. On Thursday (5/19), they dipped again, reaching a fresh year-to-date low.
In fact, Audacy’s share growth since the election of Joe Biden as U.S. President has been erased.