Bullish Case: Urban One's strategic content growth and potential market recovery could lead to significant stock appreciation, leveraging its unique positioning in media to capture audience share, especially post-pandemic.

Bearish Case: Continued underperformance in revenue and advertising, combined with adverse industry trends, may further depress UONEK's price, particularly as consumer spending tightens and competition intensifies in diverse media platforms.

Potential Outcomes:

• Market Recovery: 30% - Improved advertising revenue could boost stock price.
• Stagnant Growth: 50% - Ongoing challenges lead to flat performance.
• Decline: 20% - Severe mismanagement or regulatory issues could severely impact stock value.

Trading Oracle: Consider initiating a bullish strategy with UONEK 12/20/2024 2.50 Call options leveraging high implied volatility. If using a credit spread (short volatility), target 1.0 premium while limiting risk during volatile swings. Timing: Short to intermediate outlook, clear risk-reward potential.

December 18, 2024