With a historic winter weather system predicted to wreak havoc on holiday travel through the end of Friday night, many travelers are preparing for the worst when it comes to hiccups and headaches.
On Wall Street, turmoil of its own was seen as investors scurried from the Nasdaq and NYSE. Radio companies such as Audacy Corp. and iHeartMedia couldn’t escape the latest round of sell-offs.
With the Dow Jones Industrial Average declining by 1.05% and the Nasdaq dipping 2.2% on Thursday, iHeartMedia shares slipped another 3 cents to $6.67.
Here’s the good news — a rise in value began at 2pm Eastern, propelling the stock from $6.39. Earlier on Thursday, shares were as low as $6.33.
Still, IHRT is at its third-lowest price in the last six months after finishing at $10.65 per share on Sept. 12.
For Audacy Corp., the withering of the company’s stock price — a tremendous concern for the entire Radio business — continued. With the Closing Bell on the NYSE, AUD is now just $0.2144 a share.
On March 21, AUD was priced at $3.24 per share. It has been on a steady downhill trend since.
Meanwhile, Cumulus Media shares finished Thursday’s trading at $6.81, down 15 cents. Compared to its peers, CMLS has been fairly steady with its closing share value across the fourth quarter.
