For those with a magnifying glass on Urban One‘s Class A shares, take note: While the heat is certainly coming off of a steamy stock surge, the media company superserving African American customers still has plenty of upside when it comes to its Wall Street performance in the last four weeks.
At the Closing Bell on Monday, UONE was priced at $18.03, down $2.72 from Friday’s close.
And, in immediate after-hours trading, a 7 cent increase in value was seen, bringing it to $18.10.
While that’s nearly half of where shares were on June 19, one must take into perspective the last 30 days for Urban One for a fair look at the company’s meteoric Wall Street rise.
As shown above, Urban One was largely under $2 a share until June 15. That’s when “Blacks Lives Matter” chatter permeated to Wall Street, and how Urban One could conceivably benefit from marketers seeking to capture African Americans.
This pushed UONE to $48.49 in intra-day trading on June 19.
While Monday’s closing price is far less than that, it is still a value that was last seen in March 2004.