Mixed Monday For Media Stocks As Tech Issues Soar


It was a big day for companies such as Apple and Amazon, as general indices propelled forward on a postal and U.S. government holiday.

How did media shares fare? Mixed activity was seen, as Apple gained 6.4% to $124.40 and Amazon improved by 4.75% to an incredible $3,442.93.

Among the highlights: Townsquare Media, which climbed back to $5 with a last-minute buying surge on very light trading volume. TSQ has been at the $5 mark since Oct. 6, recovering from COVID-19 lows on a slow-but-steady trek upward as local digital and programmatic initiatives set the local media company apart from its peers.

Those peers include Saga Communications, which is struggling with prices last seen in Q1 2011. With Monday’s close, SGA is now at $19.72, down 16 cents from Friday.

By comparison, SGA was at $51.25 in April 2017.