Alico (ALCO) holds at $41.31 on Memorial Day as land story takes focus
Alico shares closed at $41.31 on May 22, up 2.8% for the week, before U.S. markets shut for Memorial Day. The company reported $26.9 million in land sales for its March quarter, with revenue down 70% but net income at $11.4 million after a major land deal. Trading volume on May 22 was below average at 18,810 shares. Alico is shifting from citrus to land sales and development.