📺Fox News has been foundering ever since it unceremoniously dumped ratings kingpin 👤Tucker Carlson in April — and the devastating fallout is escalating.

On Monday, Wells Fargo analyst Steven Cahall downgraded Fox Corp. stock and lowered its price target, citing as a key driver plunging cable news viewership following Carlson’s departure, according to Yahoo Finance.

“Wells Fargo analysts downgraded shares of Fox Corporation (NASDAQ:FOXA) to ‘Underweight’ from ‘Equal Weight’ on Monday,” Investing.com reported.

When a stock is downgraded, it means analysts are pessimistic about its chances of providing market-beating investment returns.

When analysts “underweight” a stock, they’re suggesting it has become a less-attractive investment option because it’ll likely underperform similar stocks in its sector.

In a note to clients explaining the downgrade, Cahall wrote: “Fox’s earnings are mostly Fox News