ARN battles back as Unmade Index improves
ARN Media shares staged a recovery on Wednesday after yesterday’s drastic selloff triggered by Jackie Henderson’s legal action against the company.
After losing 19% on the news that the radio host had launched Federal Court action seeking more than $80m over her acrimonious exit, ARN bounced back by 8.5% today, to a market capitalisation of $79.8m.
It was another day of improvement on the Unmade Index which moved upwards by 0.68% to 370.9 points. However this underperformed the wider market with the ASX All Ords gaining 2.3% on hopes of easing Middle East tensions.