Discovery Inc. Series B stock finished Friday’s trading up 68.85% at $57.95 a share, but the company said it wasn’t aware of any reason for the volatility.
During the day the stock traded as high as $93.75. And in after-hours trading, the shares sunk down to $50 a share.
Discovery’s A shares finished Friday down 3.35% at $21.67
In response, Discovery issued a statement that said it didn’t know the reasons behind its stock’s behavior.
“Discovery has not selectively disclosed any material nonpublic information to analysts, investors or others, and Discovery is not aware of any sales or purchase of its Series B common stock by any of its executive officers or directors within the last 30 days. Discovery's management believes it is prudent to advise the market of this given recent fluctuations of its Series B common stock,” the company said.
Discovery is set to report its first-quarter earnings on May 6.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.