Posted on 07/12/2023 11:09:51 AM PDT by Red Badger
Fox News has been foundering ever since it unceremoniously dumped ratings kingpin Tucker Carlson in April — and the devastating fallout is escalating.
On Monday, Wells Fargo analyst Steven Cahall downgraded Fox Corp. stock and lowered its price target, citing as a key driver plunging cable news viewership following Carlson’s departure, according to Yahoo Finance.
“Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to ‘Underweight’ from ‘Equal Weight’ on Monday,” Investing.com reported.
When a stock is downgraded, it means analysts are pessimistic about its chances of providing market-beating investment returns.
When analysts “underweight” a stock, they’re suggesting it has become a less-attractive investment option because it’ll likely underperform similar stocks in its sector.
In a note to clients explaining the downgrade, Cahall wrote: “Fox’s earnings are mostly Fox News earnings, and Fox News is facing viewership and share pressures. With ecosystem risks also elevated, we find our estimate outlook more negative and below the Street.”
Cahall, who also lowered his price target on Fox Corp. stock from $35 a share to $31, noted that Fox News viewership fell 19 percent from January to June compared with the same period two years earlier, Yahoo reported.
(Excerpt) Read more at westernjournal.com ...
THEY.DON’T.CARE.ABOUT.RATINGS.
Fox just crapped in their own bed
No wonder they stink
So far over 34 million watched Tucker’s interview with Tate.
Tucker was a wastin’ on FOX. He only had a fraction of that 34M i FOX.
🛬🪂🪂🪂🪂🪂🪂
on FOX, sorry
O=N
X=N
Same management of CNN. Same ratings.
53 million now.
I liked Tucker and Kennedy. Non conformist Unite
“Tucker was a wastin’ on FOX.”
And yet it seems he would have been content to stay there for years. DUMB move by Fox. Can only imagine what he’d be saying on there now about the cocaine, corruption, and cover-ups.
The Paul Ryan effect. Hiring politicians to run your organization brings you nothing but horror, mayhem, increaserevenue, brand damage, and decreased revenue.
Fox suffered the fate of many family owned businesses. The successful founder gets old and a bit demented. His two sons are stupid and married to bad wives. The company comes under their control and nosedives.
Buh-bye, FAUX.
Bud Light before Bud Light was Bud Lighted.
I should say before Bud Light Bud Lighted themselves.
Time to buy some stocK :)
Not watching is not enough.
FR needs to organize an email list of Fox advertisers so an avalanche of email hits their sponsors telling them their products are now boycotted.
Smash the numbers.
FOX is now POX
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