Why Comcast Stock Dropped 4% Today

The results are in, the medals have been awarded -- and Comcast (NASDAQ: CMCSA) isn't in the winner's circle today.

Instead, as of 12:15 p.m. ET Wednesday, shares of the cable giant and NBC parent company are down 4.1% after The Wall Street Journal reported that the 2022 Winter Olympics in Beijing delivered the "lowest ... ratings ever" for NBC.

Eight years ago, NBC bid $7.75 billion to win the rights to broadcast all Olympic games in the U.S. through 2032, but that bet hasn't been paying off for Comcast lately.

Source Fool.com