Shares in NBC owner Comcast (CMCSA) switched off today after it was made very clear by President Trump that he isn’t an avid viewer.
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Rescissions Bill
In a Truth Social Post, the President, perhaps tucked up in one of his many beds or curled up on one of his many gargantuan sofas, was clearly on the verge of throwing something very damaging towards his TV.
“It is very important that all Republicans adhere to my Recissions Bill and, in particular, DEFUND THE CORPORATION FOR PUBLIC BROADCASTING (PBS and NPR), which is worse than CNN & MSDNC put together. Any Republican that votes to allow this monstrosity to continue broadcasting will not have my support or Endorsement. Thank you for your attention to this matter!” the President thundered.
His post took a prime position on our Trump Dashboard where we look at his social media comments and the impact they have on stocks and sectors. Is he grumpy Donald? Trumpy Donald? Or the rarely seen and heard Neutral Donald?
Lengthy Grudge
The comments impacted much of the media sector. MSNBC is owned by Comcast whose shares fell 1%. CNN is owned by Warner Bros. Discovery (WBD) whose shares dropped 1%. Even one of Trump’s favorities, Fox (FOX) fell 2.3%.
Trump wants to rescind around $9.4 billion in already approved funding from foreign aid and public broadcasters including NPR and PBS.
Trump and indeed the Republican party has long held a grudge against PBS wanting the private sector and not government to fund the broadcaster. Perhaps, he has a hidden childhood trauma as a result of watching Big Bird and his friends on the broadcaster’s Sesame Street show?
However, not all of the media ruffled Trump’s feathers today. He praised USA Today after it swooned: “Trump deserves Nobel Peace Prize. He’s achieved more than those who’ve won before.” Trump’s reaction? “So nice!”
Is CMCSA a Good Stock to Buy Now?
On TipRanks, CMCSA has a Moderate Buy consensus based on 9 Buy, 9 Hold and 1 Sell ratings. Its highest price target is $48. CMCSA stock’s consensus price target is $39.62 implying a 13.17% upside.
