Slowing Growth, Possible Federal Shutdown Drag Stocks


As the 2pm Eastern hour neared on the Friday before Christmas, investors expressed their frustration with a deceleration of economic growth and the spectre of a Federal government shutdown — something expect to be prevented today by the House of Representatives.

Tech stocks, and media stocks, were among the biggest decliners.

Among the most impacted companies is AI-powered data attribution company Veritone Inc. The losses for Veritone continued Friday, with a 9.6% tumble to $3.98 seen as of 1:54pm Eastern.

Volume was exceptionally high at 766,611 shares; average volume is 354,060 shares.

For debtor-in-possession iHeartMedia, a 3-cent gain to 45 cents was seen on news that it has successfully moved forward with its split of Clear Channel Outdoor — a task very much tied to an emergence from Chapter 11.

That’s where the good news ends for radio broadcasting companies, as losses continue for Beasley Broadcast Group, Entercom, Salem Media Group and Townsquare Media.

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