FOX Sports RSN Yank Prompts PM Selloff Of Sinclair Shares

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Up until 1pm Eastern on Friday, all looked well for Sinclair Broadcast Group shares, with trading in positive territory.


Then, with seemingly no warning, SBGI careened into a deep Wall Street canyon, dipping some 6.4% by 3:30pm Eastern and accelerating to a 7.7% dip just four minutes later.

Volume had exceeded its daily average of 1.64 million shares.

What triggered the sell-off? A strikeout that doesn’t even involve Sinclair — yet.

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