The statement said Cradley was not aware of any reason for such a rapid movement in its share price value.
The groups share price jumped an initial 38.46% from 9.75p to 13.5p, and then a further 15% to 15.5p on 30 January.
Non-executive chairman John Wheatley said: We could find no rhyme nor reason for the change as we explained to the Stock Exchange.
Wheatley said it later emerged that the companys name had been mentioned on an investor chatroom, where companies market values are compared with balance sheet values.
As of 2 February, Cradleys share price had remained steady at 15.5p.
Story by Andy Scott
Have your say in the Printweek Poll
Related stories
Latest comments
"Gosh! That’s a huge debt - especially HMRC! It’s a shock that HMRC allowed such an amount to be accumulated."
"Whatever happened to the good old fashioned cash job! At least the banks didn't take 2-3% of each sale. After 30 odd transactions that £100 quid you had has gone."
"It's amazing what can be found on the "web" nowadays!"
Up next...
Replacement 'will be operational later this year'
Walstead makes decision on Bicester 64pp
'Ridiculous decision'
Unite “prepared to fight” on proposed DS Smith site closure
Also helps mitigate volatile energy prices
