For a second consecutive day, radio stocks are enjoying something of a rally on Wall Street. After jumping 2.4% on Monday, Beasley Broadcast Group rose another 2.3% Tuesday to close at $10.95. Cumulus Media, which has been in a serious stock slide and has fallen out of compliance with NASDAQ’s minimum listing threshold, improved 3.6% to 52 cents.
Emmis inched up another 1.5% to $3.29 after a 2.2% gain on Monday. Entravision ticked up 2.2% to $6.15, following a 1.7% increase on Monday and Salem Media Group rose 1.4% to $7.35. And Townsquare Media was up 1.4% to close at $10.28.
Each outperformed the Dow Jones, which grew 0.44% to a new all-time high, and the technology-heavy NASDAQ composite index, which increased 0.73%.
Saga Communications crept up 0.3% to $50.60 after a 0.5% uptick on Monday. Entercom, iHeartMedia and Urban One were flat, although the latter jumped 9.3% to $2.35 on Monday.
The gains came as the so-called FANG stocks—Facebook, Amazon, Netflix and Google—gained back ground lost in Friday and Monday’s tech selloff.