ARN can’t stay out of trouble as Unmade Index dips

ARN finished what must have been one of the worst weeks in its corporate life substantially down (-7.84% for the day), with a market cap under $75m.

The revelation that Jackie Henderson had joined Kyle Sandilands in suing the network (not a joint case, just a similar grievance) sparked a week of volatility that was definitely more red than green.

Many people have now observed ARN’s market cap is lower than the sums being sought by both Henderson and Sandilands — but as Tim Burrowes explains in this week’s Mumbrellacast, that may not actually be as important as it sounds.

Losers dominated the rest of the Index. Vinyl was down 4.76%, News Corp fell 1.71% and Pureprofile was down 1.30%. Ooh Media slipped 0.53%, Nine fell 0.52% and Aspermont was down 0.51%.

On the upside, Enero rose 4.40% and Ive was up 3.13%, the only meaningful gainers on the day.

The Index closed for Easter -0.27% down, on exactly 370 points.