Hump Day Dip For Radio Stocks
It was a difficult trading session for publicly traded companies on Wall Street on Wednesday, as the yo-yo that is Spanish Broadcasting System dipped 23 cents, to $1.40, to break a recent uptrend after a severe slump seen since its recent shift to an Over-the-Counter exchange. Beasley Broadcast Group was off $1, to $9.35, while Townsquare Media declined 24 cents, to $10.85.
On the uptick were Tribune Media, which enjoyed a 51-cent gain, to $32.49, and TEGNA, up 18 cents, to $24.33.
The RBR Radio Index fell 18.745, or 3.09%, to 588.210.
The TVBR Television Index rose 4.504, or 0.45%, to 1005.346.
Tribune, up 1.6%
Fox, up 1.3%
Sinclair, up 1.1%
SBS, down 14.1%
Beasley, down 9.7%
Salem, down 2.9%