MediaCo (NASDAQ:MDIA) stock is rising higher on Monday alongside heavy trading of the U.S. radio station company’s shares.
As of this writing, more than 8.4 million shares of MDIA stock have changed hands. That’s well above its daily average trading volume of only about 64,000 shares.
This increase in trading volume comes without any news from MediaCo. That includes a lack of press releases or filings from the company. There’s also no new analyst coverage that would cause this rally.
Even so, there are a few things that investors will want to keep in mind about MDIA stock when considering an investment this morning.
What to Know About MDIA Stock
First off, MDIA is a penny stock. That means it can be easily manipulated by certain traders. This could be why it’s seeing such heavy trading this morning. It could also mean a fall will follow this rally.
The second bit of news worth mentioning is the listing status of MDIA stock. MediaCo received a delisting update in March due to its low trading price. That gives it until Sept. 9, 2024, to be its stock trading above $1 per share.
If MediaCo is unable to pull this off, the company’s shares will be delisted from the Nasdaq Exchange. It’s worth mentioning that it doesn’t have any more extensions available to avoid that.
MDIA stock is up 85.9% as of Monday morning.
There are even more stock market stories worth diving into below!
We have all of the hottest stock market news worth reading about on Monday! That includes the biggest pre-market stock movers this morning, the latest news concerning Plug Power (NASDAQ:PLUG) stock and more. All of this is ready at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- PLUG Stock: Plug Power Faces Shareholder Lawsuit Over 2023 Finances
- MSFT Stock: Microsoft’s Gaming Strategy Is AAA
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
