Unmade Index slide continues into third day as Nine hits its worst share price ever

The Unmade Index today sank even further into its worst run since its creation.

Despite the wider ASX All Ordinaries improving slightly after the US stock markets shook off some of their oil shock, the same improvement did not apply in the media and marketing sector.

The Unmade Index fell another 0.3% to land on 377.2 points, another all time low. When our index of locally listed media and marketing stocks was first created at the start of 2022, it launched with a nominal 1000 points

Today saw Nine, the biggest locally listed stock, sink some more, falling 1.6% to a market capitalisation of $1.466bn – the lowest share price since the company was listed on the ASX in 2013. Nine’s 92c share price is now worse than the 94c it sank to at the start of the Covid emergency.

Outdoor player Ooh Media lost 1.1% today and Ive Group lost 0.7%.

However, some Unmade Index stocks did rebound, including Southern Cross Austereo which improved by 4.1% .