March was a rough month for publicly traded companies, and media was no exception. Every single major company with media and entertainment options ended the month worth less than when the opening bell rang on March 2nd. The interactive charts below detail the day-to-day shifts in value, and also show each day calculated against the market cap value from March 2nd. The changes in worth range from -0.2% to -41.8%.
In the moderate-to-severe declines are mainly businesses which are purely media focused. Lionsgate, Fox, Discovery, ViacomCBS and WWE have all seen a big impact from the coronavirus pandemic, with live sports wiped from schedules, production shut downs and movie theaters closed. Bringing up the rear is Dish, which saw a -41.8% decline in valuation over March.
As the month ended, the spread between media companies for day-to-day change was 13.2%, in stark contrast to the 29.4% spread on 3/19 and 31.9% spread on 3/25. What this means is that the rollercoaster may be slowing, and companies with larger market cap declines are unlikely to improve in the next month or two.
As the virus continues to spread across America, and throughout the world, media companies are likely to suffer sustained impact over the coming months.
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