What's Going On With Urban One Stock Today?

Urban One Inc Class A UONE shares are trading lower by 5.4% at $8.85 Friday morning amid profit-taking following a surge on Thursday.

The stock gained on Thursday after the city of Richmond's casino advisory panel recommended the company's ONE Casino + Resort proposal as its preferred casino site. Urban One shares were also trading higher after McDonald's Corp MCD announced an investment in diverse media.

Urban One is an urban-oriented, multi-media company. Urban One's primary business is a radio broadcasting operation that targets African-American and urban listeners.