Cogent Stock Rises as Legal Cloud Stays in Focus Ahead of Holiday
Cogent Communications closed Thursday at $18.37, up 3.38%, after 909,466 shares traded. Pomerantz LLP announced an investigation into possible securities fraud tied to Cogent’s first-quarter results and a 19% stock drop on May 4. Cogent reported March-quarter service revenue of $239.2 million, down from the prior quarter. U.S. markets are closed Monday for Memorial Day.