Double Digit NASDAQ Stock Winners: MDIA, STFC, WORX
10:21 am Tuesday, July 13th, 2021
Following are major stock gainers on Nasdaq in Monday ‘s trading session:
MediaCo Holding Inc. (NASDAQ:MDIA) was the active stock gainer on Monday and soared 311% to $17. MediaCo is one of those little-known, small-cap plays that has seen a lot of attention of late. In fact, after today’s massive rally, the company’s market capitalization is only just breaking through the $130 million level. Accordingly, investors may wonder what’s going on with this stock right now.
Indeed, MediaCo is a company that’s soaring on relatively little news. However, looking at the company’s short volume ratio of around 23%, it appears some degree of short squeeze mania has hit retail investors with this play.
State Auto Financial Corporation (NASDAQ:STFC) was another notable winner as the stock went up 191% to end the session at $50.22. Privately held Liberty Mutual, a major player in the property and casualty space, announced this morning that it has signed a definitive agreement to acquire State Auto Financial for $52 per share — hence the stock’s dramatic rise over the course of the day. The two are hardly strangers to each other. Liberty Mutual holds a 58.8% interest in its fellow insurer.
With State Auto Financial fully in its portfolio, Liberty Mutual will substantially beef up its presence on the market. The latter company said its new asset would add $2.3 billion in premiums and a sprawling network of 3,400 independent agencies spread across 33 states.
SCWorx Corp. (NASDAQ:WORX) surged 59.28% to $2.66. Earlier this month, The company announced that it has regained compliance with The Nasdaq Stock Market’s (“Nasdaq”) continued listing requirements regarding annual stockholder meetings and periodic reporting. In a letter dated May 25, 2021, Nasdaq indicated that SCWorx has regained compliance with its continued listing requirements for periodic reporting as a result of the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
