Why Sinclair Broadcast Stock Fell Wednesday
Shares of television broadcasting company Sinclair Broadcast Group (NASDAQ: SBGI) fell sharply on Wednesday, declining as much as 16.6%. As of 3:15 p.m. EST, the stock was down about 15.3%.
The stock's decline follows Sinclair's fourth-quarter results, which conclude a transformational year for the company. In 2019, Sinclair acquired 21 regional sports networks from Walt Disney (NYSE: DIS).
A sharp decline in profits, however, may have disappointed some investors.
Source Fool.com