Make it stop: Unmade Index loses for 8th session in row

The Unmade Index has lost ground for the eighth consecutive session on Monday, with ARN, SEG and Vinyl leading the losses.

Keen-eyed readers will pick up the discrepancy with Friday’s reporting, which noted a slight increase in the Unmade Index.

Unfortunately a refresh of the Index after hours found this to be incorrect — it was actually down 0.12% for the day.

It has now been setting all-time low records every day for more than a week.

Bearing the brunt of this bear market is ARN (-2.94% today), which has its own troubles into the bargain. While broadcast regulator ACMA’s decision today to impose licence conditions on the Kyle and Jackie O Show was irrelevant — given the show is off air — it is hard for investors to see any good (read cheap) way out of the legal and content morass ARN has wandered into.

ARN’s market cap is smaller than Vinyl, despite that stock also losing ground today (-6.25%), and perilously close to falling below $100m (currently at $104.9m).

SEG was down 3.92%, while Nine fell 1.16%, Ooh Media was down 1.61%, Enero fell 1.57%, and Southern Cross was down 1.69%. Pureprofile was also down 4.88%.

The gainers were fewer but sharper in places, led by GTN up 9.09%. Ive rose 1.17% and News Corp was up 0.38%.

The Index is sitting at a new low of 350.4, down 0.79%.