As Dow Sinks, Sinclair Shares Soar

It was another miserable day for global financial markets as the Dow Jones Industrial Average fell 103.81 points to 31,730.30 while the FTSE in London was off 1.6% to 7,233.34.

The Nasdaq was up, however, by 6.73 points to 11,370.96, and so was Sinclair Broadcast Group, which finished Thursday as a top performer in the media sector.

On slightly higher-than-usual volume of 869,383 shares, SBGI climbed by 6.3% to $24.03.

Gains were seen across the day on Thursday, pushing Sinclair stock ahead after two less-than-stellar showings that suggested SBGI was heading to a fresh six-month low.

That transpired on April 29, with a $22.24 closing price that concluded a dip from nearly $30 per share seen in early March.

The late April performance was the worst for SBGI in five years when one discounts the weeks following the March 2020 arrival of COVID-19 in the United States, and rewound the clock to February 2013 for Sinclair.

Sinclair boasts a $32 1-year target price from analysts who cover the stock.