- 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.
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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.
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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.
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.