Why did Allegro.eu rise on 6 October?
Written after the close on
Allegro.eu +2.00%
Allegro.eu rose sharply in the last session, likely helped by its ongoing share buyback. Over the last five trading days it rose clearly, in line with a clearly higher broad US market and ahead of a slightly higher consumer cyclical sector. The buyback — the company purchasing its own shares, which can support the price — was the main company-specific thread, with purchases executed through early October. Watch the mid-November earnings report for the next clear signal.
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