The Los Angeles Business Journal’s index of the largest public companies rose for the week. The weighted LABJ index rose 5 percent to close at 204. Gainers outpaced losers by 109 to 40, with 10 companies unchanged.
West Hollywood marijuana dispensing machine company Medbox Inc. was one of the week’s leading gainers. Shares rose 26 percent to close $11.35 after the company announced the appointment of Doug Mitchell as chief financial officer.
Broadway Financial Corp., the Mid-Wilshire parent of Broadway Federal Bank, also had a strong week. Shares rose 18 percent to close at $1.72 on Friday after Broadway’s chief financial officer purchased 25,000 shares of the company.
Among the stocks that trade above a dollar, Jakks Pacific Inc., a toy maker in Malibu, was among the week’s losing stocks. Shares fell 18 percent to close the week at $6.52 after analysts at West L.A.’s B. Riley & Co. downgraded the stock to a “neutral” rating, despite reporting earnings that beat analysts’ expectations.
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