On Wednesday, Urban One — the media company superserving African-Americans — revealed in an SEC filing that it and CEO Alfred Liggins III acquired all of the shares that had been held by Brigade Capital Management.
A day later, investors responded with yet another massively positive trading day for UONE and UONEK.
With 56.6 million shares traded, Urban One’s Class A shares were up $12.29, to $25 at the Closing Bell. In after-hours activity, as of 4:37pm Eastern UONE was at $29.51, rising another $4.32.
For Class D UONEK, the closing price was $3.63, up 37%. In early after-hours trading, a 62-cent gain to $4.25 was seen.
Volume for UONEK was overwhelming, at 79.74 million shares.