The Mobile Embrace Ltd (ASX: MBE) share price has been one of the biggest movers on the market in the last month.
During this time the mobile marketing and carrier billing m-commerce company’s shares have risen a massive 69%.
Why have its shares jumped?
Not even the company can understand why its shares have suddenly spiked.
The recent jump in its share price caught the attention of the ASX which issued the company with a please explain.
The company advised that is not aware of any information concerning it that has not been announced to the market which could explain the recent trading in its securities.
Perhaps the most likely explanation is bargain hunters. While Mobile Embrace may have been one of the best performers in the last month, it has been one of the worst performers on the market this year.
Even after this 69% gain its shares are still down almost 50% year-to-date. The reason for that decline is explained here.
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Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. 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.