Why the Aussie Broadband (ASX:ABB) share price rocketed 20% higher today

The Aussie Broadband Ltd (ASX: ABB) share price is on course to finish the week in style

In afternoon trade the internet service provider’s shares are up a sizeable 12% to $2.77.

At one stage today, the Aussie Broadband share price was up as much as 20% to a record high of $2.97.

When the company’s shares hit that level, it meant they were up just under 200% from their October IPO price of $1.00.

Why is the Aussie Broadband share price rocketing higher?

Investors have been scrambling to buy the company’s shares on Friday following the release of a trading update.

According to the release, Aussie Broadband has delivered a significant increase in broadband connections over the last 12 months.

The release advises that at the end…