Atlanticus Gains While Nasdaq Drops; Investors Waiting on ATLC Mercury Update
Atlanticus Holdings Corp was up on Friday, even as most U.S. stocks fell sharply. The consumer-credit stock last traded at $84.10, gaining $1.62, or roughly 2%. Shares moved in a range of $81.52 to $84.81. About 101,700 shares changed hands and market cap was close to $1.27 billion. This move drew attention as most stocks were down hard. The Nasdaq Composite slid 4.18% and the S&P 500 dropped 2.64% after a stronger May jobs report lifted worries that the Fed could keep policy tight for longer. “The dam just broke today,” Carson Group chief market strategist Ryan Detrick told Reuters. Wells Fargo’s Ohsung Kwon saw the selloff as “more driven by positioning than fundamentals.”