Why did Netcompany Group rise on 6 October?
Written after the close on
Netcompany Group +3.77%
Netcompany rose sharply as buybacks and a stake build lifted it. Over the last five trading days Netcompany Group rose sharply, moving against a slightly weaker Danish large-cap market, with the strongest gains coming in the latest session. The likely drivers were the company's ongoing share buyback — repurchases of its own stock, which shrink the number of shares outstanding — and a disclosure that Goldman Sachs had raised its holding to just under six percent of voting rights, both of which point to steady demand for the shares. A new contract worth up to roughly a quarter of a billion Norwegian kroner also supported sentiment. Watch the late-October earnings report for confirmation of the trend.
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