Tech Stock Sink Drubs Dow


Wall Street suffered a significant decline in share values on Thursday, as the Dow Industrials tumbled 2.8%, to 28,292.00, as the Nasdaq index fell 5%, to 11,458.10. A 4.6% decline for Amazon and 8% dip for Apple were among the more notable losses.

How did broadcast media stocks fare?

Beasley Media Group finished the day at $1.33, dipping 4.3% from Wednesday.

In contrast, Cumulus Media shares gained a penny, to $5.24.

And, Meredith Corp. enjoyed a 15-cent improvement, to $13.69.

Still, the downward activity was notable, with Salem Media Group finishing at just $0.9580 — a 5.1% decline.

For Urban One, which continues to see share erosion from its meteoric summertime rise in value, shares fell 16.6% to finish Thursday at $3.51.