Business
Cellnet (ASX:CLT) share price jumps 81% on trading update // Motley Fool Australia
The Cellnet Group Limited (ASX: CLT) share price is surging higher today following the release of a strong trading update.
At one point, shares in the lifestyle technology distributor were up at 13 cents, representing a massive gain of 202%. However, investors quickly sold off their holdings for a profit, sending the Cellnet share price back to 7.8 cents, up 81%.
As a matter of perspective, the All Ordinaires Index (ASX: XAO) is down 0.36% to 6,595.4 points.
What does Cellnet do?
Cellnet sources products and distributes popular brands of lifestyle tech products to retail and businesses in Australia and New Zealand. The company specialises in mobile phones, tablets and notebooks, and hybrid accessories.
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