An Awful Start To April For Media Stocks


If you thought the snow from Dayton to Dobbs Ferry on Easter Monday morning was depressing, wait until you see how media stocks fared on Wall Street. It was a disastrous day, thanks to worries of a trade war and more chatter from the White House about Amazon and The Washington Post, which it owns. This sent the Dow sinking 1.9% — and many media companies were caught up in the fray.

At the Closing Bell, Amazon was off by some 5.2%, dropping $75.35 to $1,371.99 per share.

Pandora was dinged with a 4.8% drop, to $4.79. For Twitter, a 3.3% dip put the stock at $28.04 at the day’s end. Snap Inc. careened 8.9%, to $14.46.

Radio companies impacted include Beasley Broadcast Group. Shares of BBGI also tumbled by 8.9%, to $10.30.

Entercom stock lost ground as well, calling it a day at $9.45 with a 2.3% decline.

Who was up? Saga Communications, one of the radio industry’s top performers. At the Closing Bell SGA shares were up 40 cents to $37.65. Emmis gained 3 cents to $4.64 per share, while the publicly traded “stub” of iHeart shares was up 4 cents to $0.52.