Cable's Wall Street Woes Reflect Unfounded Biden Fears, Says MoffettNathanson

Wall Street's recent bearishness toward cable companies may reflect concerns a Joe Biden presidency would mean Communications Act Title II reclassification of broadband service, legislation on net neutrality or even overt price regulation, MoffettNathanson's Craig Moffett wrote investors Tuesday. He said reclassification by a Democratic FCC would likely be shot down by the Supreme Court long before price regulation could happen. Regulatory attention on Big Tech, and away from cable, seems to point to a regulatory outlook for cable that's "less scary" than it has been for years, even under a Democratic administration, he said.