Urban One, Inc. (UONE) stock at 2:48 PM, ET time today is plunging more than 40%, having a stock price of 19.30-17.00 (-46.83%). We recently mentioned our financial analysis opinion about UONE stock.
We wrote “With no major financial news and losses for the trailing twelve months, the stock price surge for Urban One stock requires a lot of prudence. Stocks to buy or stocks to sell move according to speculative trades and now UONE stock seems to attract a lot of speculators.”
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Urban One, Inc. (UONE) stock price has made an impressive rally, but caution is suggested
Urban One, Inc. (UONE) stock closed at 25.00+12.29 (+96.70%) on June 18, 2020. The performance for Urban One stock is impressive: 5 Day: 1,555.63% 1 Month: 1,949.18% 3 Month: 1,522.85% YTD: 1,137.07% 1 Year: 1,070.41%
What drove the UONE stock higher?
An article that explains this irrational exuberance about Urban One stock, UONE stock mentions the key factors to this stock price surge:
“Sometimes It All Comes Down to the Float Let’s look at how float — and price psychology and social media — led to big moves in Urban One this week.”
A look at the financials for the Urban One stock shows a flat trend for the 5-year revenue growth, an increae for the net income, EPS that have plunged in 2019 to $0.02 per share compared to $3.01 per share in 201, a surge in short-term debt and positive free cash flows.
But having a look at latest EPS (TTM) they are negative at -$0.43 per share.
With no major financial news and losses for the trailing twelve months, the stock price surge for Urban One stock requires a lot of prudence. Stocks to buy or stocks to sell move according to speculative trades and now UONE stock seems to attract a lot of speculators. Investing is different than speculating.
“U.S. equities rose on Tuesday, helped by a bevy of bullish news, including a historic jump in retail sales and positive data from a study in a coronavirus treatment. Stocks were also helped by reports that the Trump administration is preparing a $1 trillion infrastructure bill.”
At 3:35 PM, ET time today June 16, 2020, Urban One, Inc. (UONE) stock is gaining more than 400%. The latest UONE stock price is 35.15+28.61 (+437.46%).
Urban One (UONE) stock news
“Shares of Urban One Inc. UONE, +437.46% nearly doubled in very active morning trading Tuesday, and has now skyrocketed 8-fold in three days. The gains come even as the only news from the media company, which primarily targets black Americans and urban consumers, was a disclosure Monday that Brigade Capital Management L.P. sold its entire 3.9 million-share stake in Urban One on June 11. The stock rallied 83.5% in morning trading, on volume of 9.7 million shares, which compares with the full-day average of about 871,000 share.”
“Stocks rebound as markets swing on coronavirus fears.
Stocks clawed back gains Monday, erasing early losses after the Federal Reserve signaled it would further support financial markets in the wake of the coronavirus pandemic, boosting investor confidence.
The Dow Jones industrial average climbed 157.62 points to close at 25,763.16, cutting declines after tumbling more than 700 points shortly after the opening bell. A rise in virus cases in the U.S. and China had briefly dampened investors’ optimism for a global economic recovery.
Stocks, however, added to gains after the Federal Reserve said Monday it would buy individual corporate bonds, a sign the central bank will further support credit markets during the pandemic. The Fed said earlier this year it would buy corporate bond exchange traded funds.
A rise in shares of big technology companies helped offset declines in industries that were battered by the pandemic including airlines, retailers and cruise liners.
The Standard & Poor’s 500 added 0.8% to end at 3,066.59, after finishing its worst week in nearly three months on Friday to snap a three-week winning streak. Airline, retail and cruise liners were among the biggest decliners, beaten-down stocks that had rebounded in May on hopes that the economy was recovering. United Airlines fell about 2%. Retailer Kohl’s lost 2% while shares of Carnival dropped nearly 3%.
The technology-heavy Nasdaq Composite rose 1.4% to finish at 9,726.02, helped by gains in highflying shares like Facebook and Netflix.”
The CBOE Volatility Index (^VIX) at close fell to 34.40-1.69 (-4.68%). Stock market volatility fell although the major stock indices recovered their losses and closed higher.
Urban One, Inc. (UONE) stock was among top stock gainers with a stock price at close of 6.54+4.70 (+255.43%). There was a surge in volume for UONE stock, 25,060,500 shares traded compared to the average volume of 408,234.
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