When one looks at a five-year performance chart for Urban One shares, one may immediately think of a patient on life support who has just received an EKG shock.
On August 1, 2015, the media company’s shares stood at $3.14. From that point through June 12, 2020, the performance of Urban One’s publicly traded shares could be best described as lackluster, with shares never breaking the $3.50 mark while never dipping below $1.
Then, “Blacks Lives Matter” protests fueled by the murder of George Floyd lit the African American community on fire. With reports of marketers committing to serving Black consumers better, Urban One’s stock shot off like a rocket.
Two weeks ago, the swift upward movement appeared to be short-lived. But, that’s not the case. Urban One shares appear to have settled in to a “new normal,” and it is one that represents an incredible 900% growth in share value since the end of May.