I have some ORL shares which were trading in the $3.50 -$3.80 range. Recently they have gone up to the $4.50+ region. Do you know of any reason for this? Are you aware of any takeover speculation in the market?
A: Thanks for the question.
I am not aware of any specific speculation.
It is a ‘consumer discretionary stock’ that reacts to the ebbs and flows of the economy – particularly consumer confidence and retail sales.
Like many of the stocks in this sector, it has had a pretty big trading range over the last 12 months – a high of $6.70 and low of $3.41 – not sure that there is anything unusual about a move back to $4.50, particularly when the brokers’ target price is around $4.75.
