Over the past 12 months the firms share price range has been between 5.68p-10p. But as the financial markets opened this morning it suddenly shot up to 27p an increase of 177%. It has since settled at 17p, still a 74% increase on the previous days trading.
Cradleys shares are listed on the AIM market. The firm issued an official statement just before 10am that said: The Board of Cradley note today's rapid share price movement. The Board can confirm that it is not aware of any reason for such movement.
Since the 23 December the groups chairman John Wheatley has purchased two tranches of shares: 35,000 at 8.5p and 8,400 at 9.35p. His holding now amounts to approximately 0.13% of the companys issued share capital.
The West Midlands web printer posted an operating loss of 1.8m on sales of 24.2m in its last financial year.
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