Business
ASX stock of the day: Webcentral (ASX:WCG) shares surge 34%
The Webcentral Group Ltd (ASX: WCG) share price is surging today, up 34.92% at the time of writing to 42 cents a share. Webcentral shares closed at 30 cents on Friday afternoon last week, but opened at 32 cents this morning before rocketing as high as 49 cents today, a new 52-week high for the company.
Webcentral shares have had an inversely parabolic year in 2020 so far. The company’s shares were riding high at the start of the year (trading at 38 cents in February), but were hit hard in the March market crash, and slid as low as 6 cents a share soon after. That means that, on current pricing, Webcentral shares are up 600% from these lows.
Even so, Webcentral has been giving investors a tough time in recent years. The…
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