With Townsquare Media preparing to make Bill Wilson its sole CEO following the month-end exit of co-CEO Dhruv Prasad, investors reacted positively to the surprising announcement made prior to Wednesday’s opening bell on NYSE.
TSQ shares surged across the trading day, ending up 23.3% to move past the $5 mark.
On higher-than-average volume of 124,776 shares (average volume is 53,787 shares), Townsquare grew to $5.03 — a $0.95 climb to start the calendar year.
It’s a move in the right direction for a stock that practically crumbled in the last four months of 2018, from $9.75 on September 5.
How did other companies fare on the first trading session of 2019? Find out by viewing the Wall Street Report on the homepage of RBR.com.