Urban One Shares Surge By 102% On Wild Wednesday


Call it a Blue Bump thanks to the apparent victories of Jon Ossoff and Raphael Warnock as Democratic U.S. Senators representing the state of Georgia.

Urban OneĀ shares soared by 102.1% on Wednesday, with big gains coming in the afternoon hours. After-hours trading shows a decline, but it still represents a super surge for the media company super-serving African American consumers.

At the closing bell, UONE finished at $8.87. That reflected a $4.48-per share rise in value from Tuesday’s close, and it came largely after 1:30pm Eastern, when it became all but certain that Senate control would go to the Democrats.

African American voters in Georgia are largely to thank for the coming swing of power in Washington. As such, some investors may think Black-focused media is poised to gain — again.

Urban One experienced a huge gain in value in mid-June 2020, with shares swiftly rising from the $1 range to $36.30, only to fall to the $3 range by September 2020.

Early after-hours trading shows that sellers are in action, with a $1.32 decline to $7.55 posted at 4:46pm Eastern.

Still, given the 14.24 million shares that moved in Wednesday’s trading session on average volume of 830,223 shares, Urban One is hot again.

The lone question now is, for how long?