MediaCo Shares Up, Nasdaq Decision Ahead for MDIA
MediaCo Holding Inc. (MDIA) closed at $0.8987 on Wednesday, still below Nasdaq’s $1 minimum bid requirement ahead of a June 17 deadline. Q1 net revenue rose 12% to $31.4 million, but net loss widened to $9.4 million and cash fell to $3.1 million. Shares traded on light volume, with 18,601 changing hands. The company may consider a reverse stock split to avoid delisting.