In the last 3 weeks the stock price of Xero Ltd [XRO.NZX] (see one month chart above) has outstripped the rise in the NZX by 18% or 1000% more than the 2% rise on the NZX50 index (see chart below).
The stock price rose sharply after news on October 22 that an influential investor bought a large stake in the company but came back from that rise and evened out at the beginning of November.
Since then though the stock has risen from $1.65 to rise 15c to $1.80 at time of writing or just below 10%. This is an all-time high.
There has been nothing significant to report on developments over company progress so it looks like this is a case of the market getting carried away with itself.
Can the phantom Xero poster who keeps teasing me stop it please.
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c Share Investor 2010
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