It was a historic day for Beasley Broadcast Group — but not in a good way.
Share volume for trades of its stock on Nasdaq reached nearly 12 times its average.
This put an exclamation point on a remarkable sell-off that saw Beasley shares end the day down 17%. In midday trading, a more than 20% decline was seen.
At the final bell on Wall Street, Beasley stock sat at $7.35 — a $1.55 decline from Monday’s big dip.
On Friday, BBGI opened trading at $10.85. The $3.50 drop in value per share is directly tied to the offering of 3.13 million shares of stock from the Bordes family at a price of $7.50 per share.
Volume was 1.42 million shares; average volume for Beasley is just 11,803 shares.
How did other media companies perform on Tuesday? Visit the Wall Street Report at the homepage of RBR.com.
