- The stock price of Medley Management Inc (NYSE: MDLY) increased by over 100% pre-market. This is why it happened.
The stock price of Medley Management Inc (NYSE: MDLY) increased by over 100% pre-market. There is no company-specific news driving the stock price up.
Retail investors group on social media platforms like Discord appear to be driving up the stock price up. And the investors on Discord have been citing the low float of the company shares — which makes it easier for day traders to drive the stock price up or down. According to Finviz, the company has 3.8 million shares as the float.
Investors have also been citing new management at the company. And in respect of Medley LLC’s pending voluntary case under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware, Michelle Dreyer was appointed as the independent and sole manager of the company. Investors have been citing that announcement as a reason to trade the company stock.
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