Why Did Urban One Suddenly Stumble?

0

Urban One shares were trending downward all day.


Then, less than 30 minutes before the Closing Bell, the company’s stock took a bit of a nosedive. The result: A 13.6% decline in value from Wednesday’s closing price.

On higher than normal volume of 21,023 shares, UONE was off 37 cents to $2.35.

With average volume of 4,657, Urban One is a lightly traded issue. However, its late-afternoon dip after rising to $2.90 in the first 30 minutes of trading indicates that some are perhaps profiteering — given the big day’s range.

Furthermore, Urban One has been rather moribund of late, stuck in the low $2 range. On Wednesday, shares went from $2.18 to $2.72.

There is no indication as to why the stock fluctuation was seen in the last 48 hours.


How did media companies fare on Wall Street? Visit the Wall Street Report for the RBR+TVBR composite index at RBR.com’s homepage.

LEAVE A REPLY

Please enter your comment!
Please enter your name here