More Volatility For Veritone on Wall Street

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U.S. financial markets ended the week on a soft note, as the Dow Jones Industrial Average inched downward 1.72 points, to 22,773.67, while the Nasdaq composite was up 4.82, to 6,590.18.


Among the big movers on Friday was AI specialist Veritone Inc., which in the last five weeks has soared in value, only to quickly give back more than half of those gains.

At the Closing Bell, Veritone was off 6.7%, to $37.03.

Veritone shares started the week at $51.10; on Sept. 27 they traded as high as $73.07.

While Veritone is cooling off from its huge run, the company’s share value is still well above where it spent most of the summer months. On Aug. 18, VERI stock was priced at $7.87. Shares had never closed above $15.

Veritone’s 1-year price target consensus estimate is $28.50; its Market Cap at the Closing Bell Friday is $553.9 million.

By comparison, Cumulus Media has a Market Capitalization of $9.67 million as its shares dipped two important pennies, to 33 cents.

For a full look at today’s closing prices, please view the Wall Street Report on the homepage of RBR.com.


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