8IH) shares spike on profit surge

The 8I Holdings Ltd (ASX: 8IH) share price has spiked today. 8I shares are up 8.33% to 20 cents a share at the time of writing, after surging as high as 22 cents a share earlier in the trading day. 8I shares closed at 18 cents a share yesterday and opened at 20 cents this morning, where they have trended back to after this morning’s spike.

It’s been an interesting year for this company, share-price wise. It started 2020 at 9 cents a share, where it has hovered for most of the year, with occasional swings to 10 cents and 12 cents a share. Last month, 8I shares briefly spiked as high as 36 cents a share, but have trended lower since.

8I has had a rough trot since the company’s initial public offering (IPO) on the ASX back in…