Had a quick check with my old contacts at SXL and OML, both say trading behind budget now but too early to say how much. But still much better than the dire days of early 2020.
Text book trading 101: media stocks always sink first when there are concerns of entering a recession.
So stock prices are just reacting accordingly.
The good news is that all the media companies balance sheets are in good condition compared to years past, as at least they enter a potentially difficult future time in better financial health.
SWM Price at posting:
42.0¢ Sentiment: None Disclosure: Held
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