From Machete Investor:
On Friday I wrote to you about the “media meltdown” — Wall Street’s recent hammering of media stocks.
The stated reason for the decline of these stocks was disappointing earnings reports amid reports of massive “cord-cutting” on the part of U.S. consumers.
And it’s about time.
For over a decade, we’ve heard that U.S. cable companies were soon going to lose subscribers as consumers shifted toward online entertainment content.