The fourth quarter of 2018 is only two days old, and it is already proving to be a bruising one for Veritone Inc.
Meanwhile, Salem Media Group shares swooned and are now at their lowest levels since early May.
With shares as low as $9.10 at 3:30pm Eastern, Veritone shares finished Tuesday’s trading at $9.22, down another 3.5% following Monday’s steep nose dive. On Sept. 28, VERI was at $10.45, as company executives came off a successful 2018 Radio Show outing.
Veritone’s 1-year target estimate is $20.50, and there is no clear indication as to why investors are selling their shares.
For Salem, the 1-year target estimate of $6 seems more and more like an impossible task, as shares fell 9 cents to $3.32; in early after-hours trading they recovered to $3.33.
This puts Salem at its lowest closing price since May 9, and erases gains that put SALM as high as $6.05 on July 9.
How did other broadcast media companies fare on Wall Street? Look at the Wall Street Report on the homepage of RBR.com for a quick snapshot!