US Stock Market Move | Fox-A (FOXA.US) continued to fall by over 5%, with a total drop of 25% in 3 days.

On Tuesday, Fox-A (FOXA.US) continued to fall by over 5%, hitting a new low for the year with a cumulative 25% drop over 3 days. On the news front, Fox Corporation officially announced on Monday that it will acquire the largest streaming hardware and distribution platform Roku (ROKU.US) for $22 billion. This unexpected blockbuster deal marks a groundbreaking move for the traditional media giant that has long relied on cable television networks, sports broadcasting rights, and conservative news to now aggressively push into the streaming media industry. However, the capital market has been quick to pour cold water on the excitement. Wall Street's concerns lie in the fact that in a market where Alphabet Inc. Class C (YouTube) and Netflix almost monopolize the streaming media advertising market, Fox's significant investment in acquiring Roku, amid intensifying hardware competition, raises questions on whether they have bought a ticket to the future or taken on a heavy asset burden.