Ten Network – Australia’s five billion dollar stock surprise
Pop quiz: What’s Australia’s biggest media company on the ASX?
If you’d guessed Seven West Media (market capitalisation: down more than 3% in early trading but still worth $1.06bn) you’d be wrong.
Nine Entertainment Co (also down 3% this morning, to $1.46bn) is also incorrect.
Fairfax ($2bn) would be wrong too.
If it quacks like a duck…
964% increase in stock price over the day. Market cap be damned when those returns are about!*
*not actually about