Payright (ASX:PYR) shares get speeding ticket after 32% surge

Payright Ltd (ASX: PYR) is the latest ASX payments share to receive a speeding ticket from the ASX after its share price went ballistic this morning. Payright shares closed at 90 cents yesterday after rising 10.4%. But the company opened at 95 cents a share this morning and rose all the way up to $1.22, a 32% surge. The shares have settled at the time fo writing, but are still going for $1.06, a 17% rise.

These moves have prompted a ‘please explain’ speeding ticket from the ASX soon after lunchtime today. This is standard procedure form the stock exchange if a company experiences a seemingly unprovoked share price rise of that kind of magnitude.

In response, Payright issued a release in which it confirmed in rather direct…