Losing money in big media stocks? That’s because you’re an idiot. So says global super-guru Jim Cramer, now that all the stocks have been crushed. What’s more, Google is going to continue to eat trad-media’s lunch, people are going to continue to migrate online from TV/newspapers, etc. (Sounds like Jim’s a fan of SAI! He also predicts the pain will continue, which seems a reasonable assumption).
Meanwhile, 24/7 Wall St–a New York financial media company that turned one-year-old yesterday–has provided a bolder, more proactive analysis: “Six Stocks That Could Go To Zero.” (They’re not actually at zero yet, so if you agree with the analysis, you might have an opportunity.)
Two of the six, not surprisingly, are traditional media companies. One is a newspaper company: Journal Register (JRC). And one is a cable company: Charter (CHTR).
Oh, and there’s XM Satellite Radio (XMSR), which needs the Sirius merger to save it from bankruptcy. And, of course, Countrywide (CFC) and E*Trade (ETFC).