Urban One Approved Casino Proposal and Ford Released Their New Car
Urban One is a broadcasting company based in Maryland. They classify as a micro-cap company with a market capitalization of $250.336 million, which makes sense when you look at their chart. Urban One has seen multiple spikes in its share price, similar to Hertz in the middle of 2020.
On Friday, officials from Virginia accepted Urban One’s proposal to construct a casino in Richmond. Urban One beat 5 other businesses, and their casino plan includes 110 cable games like Poker and Blackjack, along with 2,000 slot machines. This is all inside a 100,000 square foot casino, along with other features such as restaurants.
Surprisingly, Urban One closed the day down 12.39%, with traders likely selling the news.
Ford is one of the most well-known businesses in the world ever since Henry Ford founded the car company in 1903. They are one of the major players in the industry, but the automobile market has changed with the world focusing on electric vehicles to combat climate change, leaving traditional automakers in the dust.
Knowing Ford, you know the innovation will continue. I’m sure you’ve heard of the F-150, the classic pickup truck that many Americans own. Ford announced their new F-150, but the catch is that it’s electric. This marks a major shift as the F-150 is super affordable, reliable, and it would likely catch the eye of the average consumer compared to a Tesla Cybertruck. Sometimes, familiarity is important, and it has led to many orders of the electric F-150. President Joe Biden liked the car too, attending the launch event and testing it out.
Ford closed at $13.33, up 6.73% with the F-150 momentum continuing to pull through.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.