Five-Day Upward Price Trend Follows TSG Guidance Update

by admin

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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