HTC stock price spikes as investors anticipate November sales to rebound
HTC’s stock price took an unexpected turn today as institutional investors purchased more than 2.5 million shares of the company. The sudden surge in demand for HTC stocks forced the price upwards by 7% – the daily cap for Taiwan’s stock market. Mega International Investment Service Corp says that investors believe that HTC will see sales rebound in the month of November as the company is set to launch six new Android and Windows Phone 8 models across the globe.
While we do hope that HTC is able to make a splash in the market with its new devices, Hua Nan Securities analyst Henry Miao seems to think that “Bargain hunters simply used the launch of new models as an excuse to pick up the stock at the moment.” Since the middle of 2011, HTC’s stock value has plummeted, losing more than 80% of its value. If HTC does manage to turn its sales figures around in the fourth quarters, institutional investors purchasing that HTC stock stand to make a lot of money if HTC’s stock price does start to tick up again.
Source: Focus Taiwan