Medallion Financial (TAXI) Spikes as Altucher Highlights on CNBC
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Shares of Medallion Financial (Nasdaq: TAXI) have spiked intraday as Stockpickr.com founder, James Altucher, highlights the stock on CNBC's Street Insider segment. The stock is now about 5.5% higher, most recently trading at $10.34.
Altucher points out that Jim Simon's Renaissance Technologies has taken out a small stake in the company. According to Altucher, a medallion, which is basically a taxi driver's license, now costs around $600,000 in New York City.
Medallion Financial Corp., through its subsidiaries, operates as a specialty finance company in the United States.
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