Calgro M3 shares jumped more than 40% on Thursday, logging their biggest one-day gain since May 2020, after the developer of affordable housing and memorial parks signalled an even better recovery in its profits than it had initially projected.
After rising as much as 62% earlier, by the JSE’s close the share was up 42.46% to R3.59, giving Calgro a market value of R504m. The company does, however, have a limited number of shares available for trade by the public, making the share quite volatile. The so-called free float is about 8.82%, according to Bloomberg data...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.