Investing

9 Top Charts for the Week of June 22-26: QQQ, S&P 500, Gold, Crude, Apple, Kraft Heinz, Urban One and More

Is Urban One Sustainable? And Is a Secondary Offering Coming?

Each week we are featuring either a stock or an index that goes off the charts, with no pun intended. The move in Urban One, Inc. (NASDAQ: UONE) has become impossible to explain using economics and fundamentals. That said, both Bloomberg and Barron’s have referred to it as the focus on black Americans. This company used to be Radio One, and it has radio, TV and digital platforms targeting content for African Americans. Urban One was less than a $2.00 stock as recently as June 12, and now its shares have shot up to over $36 (with a high print above $50) and it now has a $468 million market cap.

Urban One’s sales have been over $400 million for the last 4 years but it also has $910 million in long-term debt. With trading volume having exploded from a few thousand shares a day to averaging over 20 million per day in the last week, wouldn’t this be a smart time for the company to raise cash in a secondary stock offering?

Source Finviz.com ‘UONE’

COVID-19 Charts: New Cases Spiking as Fatal Cases Are Shrinking

The economy has been reopened in phases throughout the country, and the public has three things that have happened. The stay-at-home measures seemed to have lasted forever. There has been national protests and civil unrest. And now the political rallies are starting. So far, there are not sporting events, concerts and movies have yet to reopen.

There is a serious ramp-up of COVID-19 cases in many of the states that reopened earlier than others. At the same time, the number of fatal cases of COVID-19 are lower. There were 682 fatal cases on June 19 and the fatal cases keeps getting lower. There were 30,927 new cases on Friday, June 19, and that was the highest level since May 1. The peak of new cases was 36,139 on April 24, 2020 and the highest daily fatalities were 2,701 on May 6.

It should be assumed there are some discrepancies using the number of days due to the reporting issues at local levels. There is also a lag in the time of new cases causing death as well, but the weekly data should show what the trends have been. There are of course age issues and other demographic issues that could be tallied here, but these are the raw numbers.

Source: MSN Coronavirus (COVID-19)

Source: MSN.com