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Stock Alert: Urban One Declines 26%

Shares of Urban One Inc. (UONE) are losing more than 26 percent or $9.55 in Monday's morning trade at $26.75. There have been no company-specific news reported today that took the stock down.

U.S. stocks are lower on Monday amid worries about the rising number of coronavirus cases in the U.S. and other parts of the world.

According to the World Health Organization, more than 183,000 new coronavirus infections were reported globally on Sunday, the biggest single-day increase since the outbreak began.

Urban One is a Silver Spring, Maryland-based media conglomerate with a group of radio stations and other media properties focused on black Americans. The company's stock had surged last week amid increased investor interest in companies controlled by African-Americans and those supporting black-owned businesses. The increased "Buying Black" interest comes after protests in the U.S. over the killing of George Floyd, an unarmed black man, in police custody.

The stock has traded in a range of $0.95 to $54.16 in the past 52 weeks.

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