Why These 4 Media Stocks Were Slammed Thursday
The market was crushed on Thursday, extending a brutal sell-off. Highlighting the market's steep decline, the S&P 500 is now down about 25% since Feb. 19. On Thursday alone, the market index fell by 7.6% as of 2:22 p.m. EDT. With a market crash of this magnitude, it's not surprising to see stocks from just about every industry also falling sharply.
Media stocks are among those taking big hits recently, with shares of Netflix (NASDAQ: NFLX), Lions Gate Entertainment (NYSE: LGF.A) (NYSE: LGF.B), Discovery (NASDAQ: DISCK), and The New York Times (NYSE: NYT) all falling by double-digit percentages on Thursday.
At one point during the trading day on Thursday, all of these stocks were down more than 10%. But here's how their sell-offs looked as of 2:38 p.m. EDT:
Source Fool.com
