Nexstar Media Stock Down 24% YTD, Can It Bounce Back?

Nexstar Media Stock Down 24% YTD, Can It Bounce Back?

KIEV, UKRAINE - 2019/02/08: In this photo illustration, the Nexstar Media Group Television ... [+] broadcasting company logo seen displayed on a smartphone. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)



LightRocket via Getty Images

Nexstar Media Group (NASDAQ



NDAQ

: NXST), the largest television station owner and operator in the U.S., saw a steep fall in its ad sales earlier in the pandemic. Consequently, the company's stock lost 24% of its value so far this year, and currently stands at $87. And, we believe it is a good time to enter Nexstar's stock. This is taking into account Nexstar's massive reach with its market-leading stations, sites, and local broadcast record of being an effective medium for viewers