It was a pretty ordinary trading session for Entravision Communications.
Then, 1pm Eastern came — and so did a big surge in the media company’s stock price. What happened?
Entravision shares soared by 15.7%, to $1.40, and it was largely due to post-midday share volume that ended the day at 1.19 million; average volume for EVC is 244,738.
While the bounce-back looks big, it is likely more a correction that anything. EVC was at $1.44 on May 8, and Wednesday’s close of $1.21 was its lowest since October 2012.
RBR+TVBR RELATED READ: