Communications gainers for week led by Russell 3000 entrants, while Gogo sinks as competition rises

• Communications services stocks joined in gainers this week, close to 1% higher as a sector - the XLC Select Sector SPDR Fund rose 0.95% for the week - and outlier gainers and losers weren't the sector's 500-lb gorillas, but generally names trading on fundamental catalysts.
• In the case of the top two gainers - Clear Channel Outdoor Holdings (NYSE:CCO) and CuriosityStream (NASDAQ:CURI) - each caught a bid with strong volumes this week after their addition to the Russell 3000 Index.
• And a Southeast Asian expansion via acquisition was good for small-cap Entravision Communication, which found a new 52-week high across Thursday and Friday.
• The week's top five gainers among Communications Services stocks ($300M market cap or more):
• Clear Channel Outdoor Holdings (CCO), +27.9%;
• CuriosityStream (CURI), +24.2%;
• AST SpaceMobile (NASDAQ:ASTS), +23.5%;
• Ooma (NYSE:OOMA), +22.4%;
• Entravision Communications (NYSE:EVC), +21%.
• Meanwhile, losers were led by an in-flight connectivity company facing some new competition. Stock in Gogo sunk for the end of the week after Morgan Stanley highlighted SmartSky Networks, a recent market entrant that's opened its Southeast corridor ahead of a 2021 launch.
• That's a threat to Gogo's bread and butter of serving business aviation customers, a market where it has 90% share thanks to owning (for now) the only ATG network.
• The week's top five decliners among Communications Services stocks ($300M market cap or more):
• Gogo (NASDAQ:GOGO), -19.1%;
• Genius Sports Ltd. (NYSE:GENI), -11.3%;
• Dish Network (NASDAQ:DISH), -11.2%;
• LiveXLive Media (NASDAQ:LIVX), -9.1%;
• Jiayin Group (NASDAQ:JFIN), -8.6%.