Shares in communications giant Comcast (CMCSA) were flat today as it suffered a severe talking down from grumpy President Trump.
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Rebrand Roasted
In a post to Truth Social, President Trump blasted the group for its recent move to rebrand MSNBC to MS Now.
MS Now is an acronym that stands for “My Source News Opinion World.” The last few months have seen NBCUniversal leaders a little more determined to distance MSNBC from NBC, especially given that the two would no longer be connected formally.
He thundered: “MSNBC is doing so poorly in the ratings that they are looking to change their name in order to get away from the stench of their fake news product. So much fun to watch their weak and ineffective owner “Concast” headed by dopey Brian Roberts, hopelessly and aimlessly flailing in the wind in an attempt to disassociate itself from the garbage that they created.”
Impact Felt
Trump, no doubt holding his phone in one hand and a huge TV guide with a number of channels angrily ripped out, concluded: “MSNBC is a failure by any name!!”
Comcast has certainly had a tough year with its shares down around 10% – see below. One of its main challenges has been losing 226,000 broadband subscribers in its Q2 to a highly competitive environment.
Trump Impact Result – Comcast stock is flat today. The post also knocked the Vanguard Communication Services ETF (VOX), which comprises stocks such as Verizon (VZ), Disney (DIS) and Roblox (RBLX).
For more Trump social media comments and the impact they have on stocks and sectors, visit our Trump Dashboard. Is he grumpy Donald? Trumpy Donald? Or the rarely seen and heard Neutral Donald?
Is CMCSA a Good Stock to Buy Now?
On TipRanks, CMCSA has a Moderate Buy consensus based on 7 Buy, 8 Hold and 1 Sell ratings. Its highest price target is $48. CMCSA stock’s consensus price target is $39.43, implying an 18.28% upside.
