MediaCo Holding Inc. MDIA stocks are trading higher Friday after an SEC filing showed Sgeneral LP standard declared a 95.2% stake in the company on April 1.
The details:
Standard General is a hedge fund controlled by Soohyung “Soo” Kim as Managing Partner and CIO.
MediaCo shares are soaring on heavy trading volume as investors digest the report. According to data from BenzingaProMore than 46.5 million shares have already traded during the session, compared to the 100-day average of just over 575,000 shares.
MediaCo Holding has attracted interest from short sellers with 19.54% of available shares sold short, which can contribute to large price swings when combined with heavy trading volume.
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Whether to sell or hold a stock depends largely on the investor’s strategy and risk tolerance. Swing traders can sell an outperforming stock to lock in capital gains, while long-term investors can ride out turbulence by anticipating further growth in the stock price.
Likewise, traders wanting to minimize their losses may sell a stock that falls by a certain percentage, while long-term investors may see it as an opportunity to buy more shares at a discounted price.
Shares of MediaCo Holding have gained 289.85% year to date. This compares to the average annual return of -28.06%, meaning the stock has outperformed its historical averages. Investors can compare a stock’s movement to its historical performance to assess whether it is a normal movement or a potential trading opportunity.
Investors can also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. MediaCo Holding stock currently has an RSI of 93.41, indicating overbought conditions.
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MDIA Price Action: According to BenzingaProMediaCo Holding shares are up 186% to $4.01 as of press time Friday.
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