Five-Day Upward Price Trend Follows TSG Guidance Update
On September 15, The Stars Group provided updated guidance for the year that included revenue growth of between 11 and 14% over last year. The company also announced its plan to prepay a $75 million second lien debt.
The news triggered a level 3 Sonal alert at 6:31 am, and the next trade was for $18 at 9:28. Over the next five trading sessions, the price continued to trend upward to close at $19.95 on September 21.
Trading on the trend proved to be a profitable strategy. The stock price rose almost 11% in the five days following the announcement.
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