Infogrames stock continues to skyrocket
Online publisher sees shares jump by more than a half in morning trading
Shares in Infogrames/Atari, which jumped by around a fifth yesterday, are continuing to shoot up today with the company's list price rocketing by more than half in the first few hours of Thursday's trading.
The news yesterday that the company had accelerated the sale of its two-thirds share in Distribution Partners triggered an outpouring of investor confidence which has seen the company's stock rise by an incredible 86 per cent in two days.
Infogrames' share price had been holding steady for the past month at around the EUR 3.50 mark, before jumping to EUR 4.28 at close yesterday and peaking as high as EUR 8.00 today, before falling to EUR 6.60 at the time of writing.
Distribution Partners, which is valued in total at around EUR 60 million, will be completely sold to Namco Bandai in the next four months, allowing Atari to focus purely on its online content plans.