Beasley Swims Against Wall Street’s Red Tide


On a day when crumbling oil prices sent general indices sliding downward, Beasley Media Group shares rose. A few other radio broadcasting companies also finished the day in positive territory.

For BBGI, a 12-cent improvement was seen, putting the stock at $2.62.

The gain came thanks to a late-session purchase that pushed BBGI up 20 cents per share in the final 30 minutes of trading.

It continues a positive trend for Beasley, which saw its shares plummet to $1.37 on March 23 amidst COVID-19 investor fears but have been largely on the rise since. While Beasley is exposed to sports, its arguably biggest franchise — the New England Patriots NFL team — is presently in what would be the off season.

Then, there is Beasley’s podcast and esports interests, which alongside stations in Detroit, Philadelphia and Charlotte continue to perform strongly.

Also up: Entravision, now at $1.5050 thanks to a $0.0850 jump in value on Tuesday.

Saga Communications climbed by 5 cents, to $25.25, as Urban One was also up a nickel, to $1.34.