On May 18, Emmis Communications stock soared to its highest closing price since March 2015. After some profit taking, the company’s shares finished a short Memorial Day holiday week on an up note.
With Friday’s Closing Bell on Wall Street, Emmis shares sit at $5.68, thanks to a 5% rise from Thursday.
Trading volume was lower than average, with 16,617 shares traded compared to 23,200.
Meanwhile, a robust recovery for Urban One shares is worth noting. On Wednesday (3/30), UONE stock climbed to $3.30 from $1.75 one day earlier — a huge jump that one financial market observer linked directly to the company’s May 21 announcement that it is purchasing WTEM-AM 980 “The Team” in Washington, D.C.
WTEM is the home for the Washington Redskins NFL franchise and had been owned by the Daniel Snyder-controlled Red Zebra Broadcasting. With WTEM, Urban One now has now further diversified its revenue stream beyond its key African American radio stations and African American-focused TVOne cable TV network.
With Friday’s close, Urban One shares are at $2.90, down 30 cents.
Still, the mid-week surge for the company puts its shares at levels not seen since August 2016.
For a complete look at Friday’s Closing Prices, please visit the Wall Street Report on the homepage of RBR.com.
