RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:The dump has begun?We are trading at negative earnings now probably. Almost all of earnings of LTM are in Q1, from a one off customer.
https://advanced-television.com/2020/05/26/covid-19-sees-25-of-q3-us-tv-ads-cancelled/ Covid-19 has seen US advertisers cancel 15 per cent to 25 per cent of the Q3 advertising time bought during the 2019-20 upfront reports Cable & Broadcast.
Executives said the cancellations were “not as bad as expected,” after the networks saw revenue down 30 per cent to 60 per cent in April, according to Standard Media Index.
Advertisers ordered $21.9 million worth of television ads during the 2019 upfront. The networks sell a full year’s worth of commercials “upfront” and guarantee they will deliver a certain number of viewers. As part of the deal, the advertisers are given an option to cancel as much as 50 per cent of their orders in the third quarter.
Advertisers who cancelled their orders could later turn around and try to buy commercials in the ‘scatter market’.
Add in some cancelled award shows, and this year is gonna be ugly.
Don't have much faith in next year either.
Again why on earth hold this if you can dump for same price it was trading at last year and buy something that is now 40-60% off if you look hard (in small cap land).