Sunday, July 2, 2017

Media Stocks Suffer in Trump Era

By Hollywood Reporter, June 30, 2017

Stocks have thus far thrived in the era of President Trump, but one sector is lagging: entertainment media.

In the first half of 2017, the S&P 500 is up 8.2 percent, but five of the seven media conglomerates are underperforming that benchmark. In fact, of the 50 media companies tracked by The Hollywood Reporter, 30 have either fallen or have advanced less than the broader markets.

“Negative sentiment due to the political environment has weighed on the sector, and investors don’t know when the next catalyst will come,” says Tuna Amobi of CFRA Research. “The sectors doing well under Trump are where government money is being spent, such as in infrastructure and health care.”

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