Volume looks low so could just be this.
Printable View
Low volume and up she goes. The media report "on no news" but there is news, and has been for a few days. Just go check out the disclosures on NZX of insiders positions, they are all buying. Good news around the corner seems almost certain, though, that would be insider trading wouldn't it? The trolls will be here shortly to clear up any misconceptions.
BAA
Did you look through the disclosures? Most of them seemed to be grants of options or RSUs as part of a salary package. No purchases at all. In fact, there were quite a few sales by Stuart McLean as part of the process of him leaving his role as Chief Revenue officer.
http://www.nbr.co.nz/article/market-...cord-bd-168850
Xero was the best performer on the benchmark index, up 5.3 percent to a near three-month high of $17.27. The cloud-based accounting firm came under selling pressure which saw its shareprice drop from a high of $45.99 in March to as low as $15 as investors mulled the outlook for growth, particularly in the US. A single investor had been "sitting on the stock quite a lot, whether they've taken their foot off which has seen a bit of the sell pressure easing," Forsyth Barr's Price said
Another view
It is nice to see the stock going back up again, but I'm not getting my hopes up yet. I'm still waiting to hear more positive news around numbers.