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SOARING: Why the Greencross Limited share price is up 30% this week

Credit: AllieKF

If you own shares of Greencross Limited (ASX: GXL), then you’ll love this.

The share price of the specialty pet retailer and veterinary services provider has jumped another 5% today to $6.11, and hit a high of $6.18 earlier in the session. The shares have now surged 30.3% since the beginning of the week, compared to a 0.8% rise for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) benchmark!

Source: Yahoo! Finance

Source: Yahoo! Finance

The latest jump comes after reports from The Australian Financial Review that EBOS Group Ltd. (ASX: EBO) could be joining the race to buy Greencross, with the company’s shares still trading well below their 52-week high ($9.90).

While some investors will likely look to take their profits off the table, further gains are possible if the company can attract even greater interest.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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