We recently released a compilation detailing the 10 Worst Broadcasting Stocks to Buy According to Short Sellers. This write-up delves into Tegna Inc.’s (NYSE:TGNA) positioning among these broadcasting stocks.
Examining the Election Volatility in the Stock Market, September traditionally brings volatility to the stock market, often due to various reasons. However, with potential rate cuts looming in 2024, there is a likelihood of a different scenario.
Discussing the market scenario, Mona Mahajan, a senior investment strategist at Edward Jones, emphasized the significance of long-term investors leveraging market fluctuations to diversify their portfolios. In August, the market saw an 18% climb, signaling a probable correction or pullback, which was evidenced by the subsequent 4.2% decline.
Mahajan pointed out that weaker-than-expected economic reports on employment, including job openings and non-farm payrolls, contributed to the market’s downturn. Despite this, unemployment rates decreased slightly, and job growth remained positive, indicating ongoing economic progress.
Encouraging long-term investment strategies, Mahajan highlighted the evolving economic landscape, particularly the performance of large-cap technology stocks. She suggested diversifying beyond tech stocks, emphasizing the role of AI in driving market dynamics in various sectors for the foreseeable future.
Historical data revealed that bull markets tend to outlast bear markets, urging investors to maintain a long-term perspective rather than reacting impulsively to short-term market shifts. Mahajan also discussed market valuations, indicating a potential positive impact on stock valuations with expected interest rate cuts in the coming years.
It’s crucial to note that election-driven volatility tends to benefit broadcasting media companies, as witnessed in previous election cycles. This trend is expected to persist, with increased revenues attributed to the surge in political ad spending during election campaigns. This aspect was further explored in our article on the 10 Best Broadcasting Stocks to Buy.
In compiling the list, we surveyed ETFs, stock screeners, and online rankings to identify 15 broadcasting stocks, ultimately selecting 10 that were shorted, endorsed by elite hedge funds, and favored by analysts. The chosen stocks were ranked by short interest as of August 15, deriving insights from Insider Monkey’s comprehensive database tracking elite money managers.
Emulating top hedge fund picks has proven to outperform the market, reflecting a successful strategy. With 275% returns since May 2014, our quarterly newsletter selects 14 stocks every quarter, surpassing its benchmark by 150 percentage points.
Additionally, we provided an overview of Tegna Inc. (NYSE:TGNA), shedding light on its short percentage of shares outstanding and hedge fund holders. Tegna Inc. operates in broadcast, digital media, and marketing services, offering local news and entertainment.
The company’s recent index reclassification, coupled with developments in broadcasting rights agreements, advertising revenue, and industry recognition, all contribute to its investment appeal. Despite its potential, Tegna Inc. ranks 4th on our list of worst broadcasting stocks, prompting a focus on AI stocks with perceived high returns within a shorter timeframe.
Disclaimer: None. This article was originally published on Insider Monkey.