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Urban One Shares Rally Over 30%, Here’s Why

Sam Boughedda trader
Updated 10 Mar 2022

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Media company Urban One (NASDAQ: UONE)

Media company Urban One (NASDAQ: UONE) shares are rallying on Wednesday after the company said that it is launching it's first national “personality-driven” podcast alongside Reach Media, named the “Undressing Room,” presented by Macy's.

The US-based outlet said the podcast will be hosted by radio personalities Eva Marcille and Dominique Da Diva with the first episode being launched in early February.

Urban One shares jumped higher on the announcement, trading at $7.75 up 32.93%, hovering around a critical resistance level.

According to the company's press release, the podcast will discuss topical content around entertainment, pop culture, and fashion and beauty.

“We are excited to be launching our first national talent-driven podcast presented by Macy's, a brand that defines American style and culture,” said Josh Rahmani, SVP National & Network Sales for Radio One and Reach Media.

“The Undressing Room” will provide our listeners with a fresh entertaining podcast and deliver yet another engaging audio outlet for our advertisers to reach our coveted audience,” added Rahmani.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.