The schizophrenic mood of media stocks continued to shine in Wall Street’s spotlight on Tuesday, as the Dow Jones Industrial Average climbed 26.63 to 22,020.03, and the Nasdaq composite index grew 3.78 to 6,344.05.
While TEGNA rose nearly 1.1%, to $13.13, and both SNAP and Pandora saw rebounds after recent losses, most media stocks ended the day in the red.
Shares of iHeartMedia were off 5%, to $1.70, while Entravision dipped 3.4%, to $5.75.
Meanwhile, Sinclair continues to suffer from negative press and fears that Washington, D.C. will throw a monkey wrench into the media company’s announced merger with Tribune Media. At the Closing Bell on Tuesday, SBGI shares were down 3.2%, to $29.20. It marks the lowest close for Sinclair shares since November.
For a complete look at today’s closing prices, please visit the Wall Street Report on the homepage of RBR.com.