Why Aconex Shares Rose Strongly Today

global economy

What happened to Aconex’s shares?

 Shares of Aconex [ASX:ACX] have gained more than 5% today at the time of writing.

Why did the ACX share price rise?

We can’t be sure, but it appears investors might be going bargain hunting on this one.

Aconex shares were slammed recently, after the company released its 2017 outlook and trading update on Jan 30. The stock was down at one point over 45% on the day. The stock has steadied and recovered slightly over the last two weeks.

What now for Aconex?

The market will be waiting for the next update, due from the company on 21 February. It’s due to report its first half year results. There’s no reason to rush into this one. After such a fall, stocks usually take time to come back into favour.

Regards,

Callum Newman

Callum Newman

Callum Newman

Originally graduating with a degree in Communications, Callum decided financial markets were far more fascinating than anything Marshall McLuhan (the ‘medium is the message’) ever came up with.

Today Callum spends his day reading and researching why currencies, commodities and stocks move like they do. So far he’s discovered it’s often in a way you least expect.

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