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[email protected] Share Price Surged 61.7% Today – Here’s Why

Simon Mugo trader
Updated 18 Aug 2020

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Supply@ME

Shares of [email protected] (LON: SYME) today surged 61.7% higher earlier today after it emerged that the Group’s CEO had increased his holdings in the company.

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The news was contained in a statement released by the company indicating that Orchestra Group, which is owned by Alessandro Zamboni, the company’s CEO, has acquired 1.63 billion shares in the company at an average price of 0.6756p.

The latest share purchase raises Orchestra Group’s holding in the fintech company to 23.96% of its paid-up share capital, a significant increase from the 28.98% it owned previously.

Here’s why SYME stock rallied 30% higher on Friday.

[email protected] share price

Tradingview chart of Supply@ME share price 18082020

SYME shares today surged 61.7% to trade at a high of 0.922p having closed Monday’s session at 0.57p.

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading