Despite a strong recovery for the Dow Jones Industrial Average and Nasdaq, a pair of broadcast TV giants once again struggled to see gains on Wall Street. At the Closing Bell on Thursday, both Nexstar Media Group and Sinclair Broadcast Group were in the red.
For Nexstar, shares declined 2.6%, to $64.80 — a disappointing downward trend for a company that saw its stock rise to $81.75 as recently as January 19. Since then, Nexstar retreated to a low on April 9 of $62.35—negating all growth since early November for the company that acquired Media General.
For Sinclair, a 3.2% decline set SBGI shares to $28.90. That’s the lowest point for the company that seeks to complete its merger with Tribune Media since mid-September.
Sinclair peaked at $39.80 a share, on Jan. 15.
In other Wall Street activity:
- Veritone Inc. saw its topsy-turvy stock gain 10.2%, to $18.59.
- American Tower improved by 1.2%, to $136.84.
- Pandora saw a 4.5% gain, to $5.45.
- Salem Media Group, which releases its Q1 2018 results following the close of the stock markets on May 8, saw its stock fall by 8 cents, to $3.33.