Ongoing economic concerns expressed by the Federal Reserve, coupled with fresh jobless claims numbers, sent the Dow Industrials sinking by 6.9% on Thursday. Nasdaq was off by 5.3%. How did media stocks fare? Carnage was seen across the board.
Among the biggest declines was a 14.6% drop for Beasley Broadcast Group, sending it down 36 cents to $2.11.
Cumulus Media was off by 18.9%, to $5.36, with a $1.25-per share drop, while Entercom slumped by 12.4% to $1.76.
Radio broadcasting companies weren’t the only ones seeing steep slides.
Comscore declined 18.8%, to $3.0850, as Sinclair Broadcast Group fell by 11.8%, to $19.13.
For a full look at today’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.