Mid-Week Green For Media Stocks, Sans Entercom


The wild Wall Street rollercoaster ride that’s perhaps more intense than the Coney Island Cyclone roared on Wednesday, as the Dow Jones Industrial Average soared 617.70 points to 25,366.43, and Nasdaq climbed by 208.89 points, to 7,291.59. Radio and TV companies were largely up. But, Entercom was left out of the gains.

At the Closing Bell, ETM shares were down 10 cents, to $6.40.

Volume was 1.24 million shares, slightly above the average of 1.2 million shares seen for the company. But, volume built across the last hour of trading, and had been low through mid-afternoon.

A look at the session trading chart shows a sell-off hitting Nasdaq right at 10am. Within thirty minutes, Entercom shares were down by 20 cents. Just before noon, a $6.35 price was seen. Trading then moderated across the afternoon hours as volume increased.

Entercom went ex-dividend on Monday (11/26).

In other activity on Wall Street:

  • Beasley Broadcast Group shares inched ahead by one penny, to $5.24.
  • Salem Media Group stock climbed by 5 cents, to $2.94.
  • Entravision shares ended the day with a 2-cent improvement, to $3.29.
  • Nexstar Media Group is back on track toward $80 thanks to a 10-cent climb, putting NXST at $79.42.
  • Saga Communications enjoyed a $1.22 jump to $37.27.