With Thursday’s Closing Bell for U.S. financial markets, the mood was decisively glum for holders of such blue chip “Big Tech” companies as Microsoft, Meta and Apple. It was also a downbeat session for Nexstar Media Group, which finished the day at $154.70 — a $13.27 decline from Wednesday.
As Friday’s trading session entered its final hour, “NXST” had started to slice away at yesterday’s big dip.
As of 2:47pm Eastern, Nasdaq-traded Nasdaq shares were up by $5.60 per share, to $160.30.
The gains came as “Big Tech” giants rapidly recovered from yesterday’s carnage. Nasdaq-traded Microsoft was up by $17.39 per share to $370.22, a sign that Wall Street activity is being driven by short-term visibility and not by the long tail. Meta was up by $7.37 per share, to $550.24, as of 2:51pm Eastern. Apple shares were up by $5.558 to $280.73 per share.
In other notable media industry trading:
- iHeartMedia shares were on the rise, trading at $4.31 (up by $0.21 per share) as of 2:55pm.
- Townsquare Media was trading at $6.82 per share, rising by $0.38 from yesterday.
