Although the previous post seems to have used the wrong code, the question is still the same - why did PGC surge 80% in one day - not that I am complaining......
I read the announcement and the one sentence that stood out was: "Consequently, revenues for the FY20 year are likely to exceed $220m (FY19 $236m). "
This combined with the cost saving measures does make things sound promising for a change.
I am GUESSING that the good news combined with a few short-sellers being caught on the wrong foot is the reason for today's welcome surge.
When I saw PGC at 12c yesterday, I was having thoughts of cutting my loses and getting rid of PGC - sometimes not being able to make a decision is a good thing )
PGC Price at posting:
21.5¢ Sentiment: Hold Disclosure: Held
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