Shares of Ridgecrest PLC (LON: RDGC) rallied 30.1% despite the lack of significant announcements from the cash shell company.
The company’s shares have been trading sideways since I last covered the firm in mid-April when its shares crashed on valuation concerns.
Since then, there has been no significant announcement from the company, which was weighing takeover offers from entities looking to list on the London Stock Exchange.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Today’s rally cannot be attributed to a specific announcement, except that some of its more significant shareholders have been growing their positions led by Mr. & Mrs Edward Spencer. They have raised their stake to 7.09%.
Paul McKillen, another significant shareholder today, announced that he had raised his stake in the company to 3.01%.
Investors interpreted the recent share purchases by existing shareholders as a sign that the company could release some positive news soon.
However, Ridgecrest is yet to make any significant announcement, and the recent moves by significant shareholders are not a guarantee of future events.
Many investors are waiting for the company to issue an update regarding its operations or offers from potential suitors.
From a technical perspective, today’s move could lead to a rally in future, given that the support level outlined in the chart below has been in place since late December.
*This is not investment advice.
Ridgecrest share price.
Ridgecrest shares surged 30.11% to trade at 1.21p, rising from Tuesday’s closing price of 0.93p.
Should you invest in Ridgecrest shares?
Ridgecrest shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Ridgecrest shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
