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Shares in UK-based advertising agency WPP(NYSE: WPP) fell 11.4% in January according to data provided by S&P Global Market Intelligence. The high-yield stock's fall comes after a management presentation seemed to fail to win over analysts.
Indeed, the stock received two downgrades in January from heavyweight brokerages. Goldman Sachs downgraded the stock to neutral from buy after the presentation in the middle of the month, with Bank of America having already downgraded it to underperform.
The business model of advertising agencies is under pressure from the growth of digital advertising. Image source: Getty Images.