Benzinga - The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Salem Media Group, Inc. (NASDAQ: SALM)
- Salem Media Group posted a wider-than-expected first-quarter loss. The company’s stock has a 52-week low of $0.92 .
- RSI Value: 29.49
- SALM Price Action: Shares of Salem Media fell 4.9% to close at $0.9410 on Thursday.
- Society Pass posted downbeat quarterly sales. Raynauld Liang, Society Pass Inc. Chief Financial Officer, explains, “Our outsized first quarter 2023 financial performance validates our acquisitions-focused business plan here in SEA. For 1Q 2023, we achieved year-on-year revenue growth of 358%, whilst recognising year-on-year cash operating expenses increase of only 20%.” The company’s stock has a 52-week low of $0.8060.
- RSI Value: 26.37
- SOPA Price Action: Shares of Society Pass fell 7.6% to close at $0.8320 on Thursday.
- United States Cellular reported worse-than-expected first-quarter EPS and sales results. "Postpaid subscriber trends improved year over year as we made progress toward stabilizing our customer base, but we still had net subscriber losses during the quarter and have more work to do," said Laurent Therivel, UScellular President and CEO. The company’s stock has a 52-week low of $14.12.
- RSI Value: 15.72
- USM Price Action: Shares of United States Cellular dropped 3.5% to close at $14.30 on Thursday.
- Kubient posted a narrower-than-expected loss for its fourth quarter. "This past year, we transformed Kubient into an efficient and well-balanced technology organization with an emphasis on improving KAI, our proprietary ad fraud identification and prevention solution," said Paul Roberts, CEO and founder of Kubient. The company’s 52-week low is $0.33.
- RSI Value: 29.26
- KBNT Price Action: Shares of Kubient fell 3.2% to close at $0.5026 on Thursday.
- Vinco Ventures reported a 1-for-20 reverse stock split. The company has a 52-week low of $2.12.
- RSI Value: 26.73
- BBIG Price Action: Shares of Vinco Ventures dropped 2.2% to close at $2.22 on Thursday.
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