Why is it that I have to write these articles on a near-daily basis? If you go woke, you will go broke.
Fox News’ decision to fire Tucker Carlson has impacted the network in a blatantly negative way. Viewership is down 19% since January, according to sources.
Aside from the lack of viewership, the network is been losing talent with more likely to follow.
Now Fox News has received some pretty bad news—their stock has been downgraded by analysts at Wells Fargo.
The latest headlines say it all:
FOX NEWS STOCK DOWNGRADED: A major financial services company downgraded Fox Corporation stock, citing risks concerning news, earnings, and viewership. MORE: https://t.co/Q0NLTnTRCL pic.twitter.com/McSu24q0do
— NEWSMAX (@NEWSMAX) July 10, 2023
One Twitter user shared his analysis:
“Fox News’ stock is downgraded by Wells Fargo in the wake of Tucker Carlson’s departure. The network’s ratings have taken a hit, with a 39% drop in the coveted 25-54 demographic.
Since Carlson’s exit, the network’s viewership during his former 8 p.m. slot has reportedly dropped from a three million viewer average to a 1.65 million viewer average. With Fox’s stock now rated as “underperform,” the network faces a challenging road ahead.”
https://twitter.com/GCapital_LLC/status/1679218714191753216
Yahoo Finance provided the financial details:
“Fox’s earnings are mostly Fox News earnings, and Fox News is facing viewership and share pressures,” he wrote in a new note to clients.
“With ecosystem risks also elevated we find our estimate outlook more negative and below the Street.”
Cahall, who also lowered his price target on the stock to $31 a share from the prior $35, explained viewership numbers for Fox News were down 19% from January to June compared to the same period two years ago.
Journalist Charles Downs points out that President Trump was right regarding Fox News and Paul Ryan: “Wells Fargo downgraded Fox Corporation’s stock. Trump was right. Paul Ryan is a loser and is destroying Fox News. Remember, Ryan is a big fan of Ron DeSantis. Avoid DeSantis- Ryan at all costs. They are nothing but trouble.”
Wells Fargo downgraded Fox Corporation’s stock. Trump was right. Paul Ryan is a loser and is destroying Fox News. Remember, Ryan is a big fan of Ron DeSantis. Avoid DeSantis- Ryan at all costs. They are nothing but trouble. pic.twitter.com/NWWE7hqjcp
— Charles R Downs (@TheCharlesDowns) July 12, 2023
Below is a snapshot of the Fox Corporation’s current stock price. Currently, Fox Corp is trading at $33.67 per share, and the stock is currently trading sideways as part of a broader downtrend.
Breitbart noted:
According to a May survey from the Economist/YouGov, one-quarter of American adults said they watch Fox News “less often” after Carlson left the network.
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