MORE than $400 million was wiped off the value of Seven West Media’s (SWM) stock in initial trading this morning amid dire warnings from city analysts. Shares in SWM fell from $3.77 on Tuesdayu0092s close to this morningu0092s open of $3.12, a drop of $432 million drop in market capitalisation from $2.14bn to $1.78bn. Shares in SWM bounced back to later trade at $3.20.
Seven face paybacks to advertisers from falling viewership: analysts
