I would like to bring to your attention regarding the below article posted today.
After this article the Sky TV share price crashed today.
Sky TV reported they had to write down goodwill cause of share price decline this year during Covid-19.
Sky actually made a profit of 21 million, but because of the write down its showing as negative on their books.
The annual report today had a return to profit showing.
Media seems to use titles like "Sky TV reports $157 million annual loss after big write-down" as a negative spin and hence the share price crashed today.
Is there any due diligence before a media company can post a title like the above, knowing its negative implications to the company in question?
Knowing the overall result of the annual report was actually positive news.
Is this possibly considered stock market manipulation or are media free to report as they see fit?
I am a share-holder in this business, so just wanted to bring this to your attention the power of choosing a title like this.
Below is an example of another title I found today with a different spin.
"DJ Sky TV Sees Return to Profit on Streaming, Live Sports --Update"
(20min delay)