Why The New York Times Company Stock Fell Wednesday
Shares of The New York Times Company (NYSE: NYT), publisher of the namesake newspaper, took a hit on Wednesday, falling as much as 19.6%. As of 11:30 a.m. EDT, however, shares were down about 14%.
The stock's decline follows The New York Times' second-quarter earnings release. Likely prompting the slide was a top-line figure that came in lower than expected. In addition, guidance for digital advertising revenue to decrease in Q3 may have spooked some investors.
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