What fuelled Aquis Entertainment's 1000% rally in a week

  • February 24, 2021 08:15 AM AEDT
  • Ashish
    Ashish
    Financial Journalist Ashish
    58 Posts

    Ashish is a Financial Journalist with an experience of nearly 9 years in the field of economy, stock market and foreign affairs. He has also spent a few years in the corporate sector. A mechanical engineer with post-graduation in marketing and operat...

What fuelled Aquis Entertainment's 1000% rally in a week

Source: Shutterstock

Summary

  • Shares of Aquis Entertainment Ltd have jumped to A$0.44 from A$0.040 on 16 February 2021.
  • Aquis stock has rallied significantly in a very short span without any significant announcement recently being made by the company. 
  • Aquis was recently issued a ‘please explain’ speeding ticket by the ASX after its shares experienced abnormally high volumes and a significant price rise.

Shares of Aquis Entertainment Ltd (ASX:AQS) are on a roll. The stock has given investors a return of 1,000 per cent in a week. The share price has jumped to A$0.44 from A$0.040 on 16 February 2021.

Image Source: © Embe2006 | Megapixl.com

In the last one year, the stock of the resort and gaming company has had a wild ride, having hit a 52-week high of A$0.82 as well as a 52-week low of 0.0030. The difference between the two is a significant 27,000 per cent.

What’s driving the upward rally?

Aquis stock has rallied significantly in a very short span without any significant announcement recently being made by the company. The company had released its last quarterly update on 29 January 2021.

Image Source: © Cmmeraydave | Megapixl.com

Speeding ticket by ASX

Aquis was recently issued a “please explain” speeding ticket by the ASX after its shares experienced abnormally high volumes and a significant price rise without any critical trigger. The ASX query was mainly related to the change in the price of AQS’s securities from a low of A$0.037 at the close of trade on Wednesday, 17 February 2021, to an intra-day high of A$0.125 on Thursday, 18 February 2021.

READ MORE: Facebook ‘re-friends’ Australia, set to lift news ban

The company said it’s not aware of any relevant information that had not been announced to the market, which could be an explanation for the recent trading in the company’s securities.

Meanwhile, the ASX200 closed on Tuesday, up 58.30 points or 0.86 per cent to 6,839.20. The index has lost 1.13 per cent for the last five days, but sits 4.20 per cent below its 52-week high. The top performing stocks on the ASX 200 were ADBRI Ltd and AUB Group Ltd, up 10.51 per cent and 10.06 per cent, respectively.

READ MORE: Nexion almost doubles in value after A$8M IPO

 

 


Disclaimer
The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK