You’d have to hope someone made good coin on Tuesday and Wednesday, when online luxury retailer Cettire’s share price on the ASX skyrocketed 75%, from $1.34 to $2.35.
Whether it was investors wanting to get something back on stock that was trading at about $4.90 in February, or day traders scarpering with quick loot, the volume went through the roof, and then fell just as quickly back to terra firma. The trading volumes on Friday September 20 (5.
4 million shares) and Monday September 23 (two million) were followed by a hive of activity triggered by the release of annual results at 9:11am on Tuesday (September 24) when volume traded for the day was 23 million shares. Cettire ASX – past month. On Wednesday (September 25) the volume was down to 6.
5 million, and the stock peaked at $2.35 per share, up from $1.34 two days earlier.
This represented an eye-watering 75% jump for any magician who managed to buy at the bottom and sell at the top. By close of play Wednesday the stock was at $2.20.
It opened today (September 26) at $2.17, dipped to $1.85, peaked at $2.
21, and with two hours before close was trading around $1.90, representing a fall of 13% for the session, and 19% off the Wednesday peak. Volume was at 4.
7 million. Cettire ASX – past five days. Whatever the ups and downs, it’s been a good week for Cettire, which sells high-end products from over 500 designers, including Valentino, Alexander McQueen, Off-White, Prada, Balenciaga, Bottega Veneta, Saint Lauren, Chri.
