Since October 2021, the communications sector has been lagging behind the S&P 500, and is down roughly 34% year-to-date, as of Sept. 9.
As the economy braces for a potential recession, TV station operators hope to generate revenues through advertisers and subscribers.
This year has been brutal for SoFi Technologies Inc (NASDAQ: SOFI) and other lenders, as investors grow increasingly concerned about the negative impact rising interest rates will have on lending, margins and revenue growth.
Upgrades
For Iris Energy Ltd (NASDAQ:IREN), Compass Point upgraded the previous rating of Neutral to Buy. The current stock performance of Iris Energy shows a 52-week-high of $17.97 and a 52-week-low of $2.89. Moreover, at the end of the last trading period, the closing price was at $4.26.