Can Televisa Bounce Back from the Abyss?
Televisa's Q3 nosedive saw shares plummet 7.77%, hitting historic lows. Citi analysts cut price targets, and a 12% Ebitda drop is anticipated. Can this Mexican media giant script a comeback? Stay tuned.
In the tumultuous world of finance, few spectacles are as captivating as watching a corporate giant stumble, and stumble Grupo Televisa did! The Mexican media mogul, known for its telenovelas and news broadcasts, had a dizzying fall from grace in the third quarter of 2023. Shares plummeted like a lead balloon, dropping 7.77 percent, marking their worst variation in eight months.
But that's not the half of it. The stock's value dived to a meager 9.49 pesos each, hitting a nadir not seen since June 1998 when it was trading at a meager 8.70 pesos. It's almost like Televisa took a trip to the time machine and landed in the late '1990s, with its shares seemingly stuck in the past.
