Why Is Entravision Communications (EVC) Stock Down 47% Today?

Entravision Communications (NYSE:EVC) stock is falling on Wednesday with the release of the advertising, media, and technology solutions company’s Q4 2023 earnings report.In that earnings report, Entravision Communications provides investors with an update on its partnership with Meta Platforms (NASDAQ:META). The big news here is that Meta is winding down its Authorized Sales Partner (ASP) program.This has Meta intending to end its partnership with all ASPs by July 1, 2024. That includes Entravision Communi ...