ViacomCBS, Discovery Inc, Fox Corp, News Corp Sell Off28 Mar 2021 15:28
Friday, 26/March/21,plus$40 billions wiped out.
Plummeting back to earth for many streaming media services like the companies below.
ViacomCBS, Discovery Inc, Fox Corp, News Corp,
Baidu, Tencent Music and Vipshop went on the sell of chopping block.
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The banks Goldman Sachs, JPMorgan Chase, Morgan Stanley handled the sales —They began emailing investors about the trades well before the market opened, with $6.6bn worth of stock in Baidu, Tencent Music and Vipshop on the block.
Throughout the day equity sales traders at Goldman and its rival Morgan Stanley hammered the phones as they tried to move billions of dollars of stock. Shares in US companies such as Discovery as well as online retailers Shopify and Farfetch were offered out, wiping billions of dollars off valuations. See the stock valuation almost 40% wiped out from ViacomCBS while others lost between 6 and 30% last Friday.
Good news for real companies like Cineworld with the world most affordable share prices. No other media company can match our share price bargain value with super potential for genuine growth and never been over valued since the beginning of the CoronaVirus pandemic while others went sky high and now coming back to planet earth.
26-March-21
[Investors hunt for source of fire sale that sent stocks tumbling] Read below the Free FT saved article https://archive.vn/qmZsY
MKM Partners analyst Eric Handler downgraded AMC Entertainment (NYSE: AMC) from Neutral to Sell and cut its price target to $1 from $2, saying achieving solvency has come at a steep price. The analyst commented, " We are downgrading our rating for AMC to Sell from Neutral as of 1 Feb 2021
https://www.streetinsider.com/dr/news.php?id=17890726#:~:text=MKM%20Partners%20analyst%20Eric%20Handler,AMC%20to%20Sell%20from%20 Neutral. May long live Mooky, BoD, II's, PI's
Big Shout to all the old and new regulars. NoFear