Business
Why the Nine Entertainment (ASX:NEC) share price just hit a 52-week
Nine Entertainment Co Holdings Ltd (ASX: NEC) shares are on the rise today after the company announced some changes to its board. During intraday trade, the Nine share price surged more than 6% to reach a new 52-week high of $3.13.
At the time of writing, the media company’s shares have retreated back to $3.06, up 4.08% for the day with only moments of trade remaining.
What’s driving the Nine share price?
The Nine share price is leaping higher today following the company’s announcement that board member Patrick Allaway has resigned. In a statement released to the ASX after close of trade yesterday, Nine Entertainment chair and former federal government treasurer Peter Costello announced Mr Allaway would resign by early…
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