Business
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…
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