This Forgotten Deep Value Stock Is Down 64% This Year. It's Time to Buy.
The traditional print newspaper business is a dying industry, and even the digital media space is not so easy to successfully navigate.
For this reason, it's not a huge surprise to see that Gannett (NYSE: GCI), the largest newspaper publisher in the U.S. and the parent company of USA Today, has struggled in recent years. Issues in the news business have also been exacerbated by the pandemic and the ultra-high inflationary environment, which has brought the stock to extreme lows.
While there's still a lot of work to do, Gannett is making progress at getting its financial affairs in order and transforming its business from an old, out-of-date print model to a more modern digital media business. With the stock off roughly 65% this year and trading at a beaten-down valuation, it's time to buy. Here's why.
Source Fool.com
