Market Rout: Stocks Slide On Renewed COVID-19 Economic Concerns

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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.

 

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