Urban One’s Wall Street Bubble Bursts


Following the social justice protests across the U.S., fueled by the murder by members of the Minneapolis Police Department of George Floyd, several high-profile Chief Marketing Officers — including Procter & Gamble Co.’s Mark Pritchard — pledged to invest in media superserving African American consumers.

Investors responded, as Urban One shares surged from $1.84 on June 12 to $36.30 just one week later. By July 6, however, “UONE” cooled off, and seemed to have reached a “new normal” on Nasdaq.

That’s not the case, however. Urban One stock has lost 62% of its value in the last two weeks.

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