Why The New York Times Stock Was Sinking This Week
Shares of The New York Times (NYSE: NYT) slipped by as much as 10% this week, according to data from S&P Global Market Intelligence. The largest newspaper company in the United States posted strong subscriber and earnings growth in the fourth quarter of 2023. It is also raising its dividend per share. However, these results were below investor expectations, which led the stock to fall in the days following the report.
Let's take a look at why The New York Times stock is falling and whether it is a buy-the-dip candidate at these levels.
Even though the newspaper business has struggled over the last two decades, The New York Times has thrived. Whether due to strong execution or consolidation to more national news consumption due to the growth of the internet, the company has put up steady growth in recent years. In Q4, the company added 300,000 new digital subscribers, hitting 10.3 million total subscribers across its various subscription tiers.
Source Fool.com
