Strong Showing in Week’s Volatile Market
The stock market in whole may be enduring wild fluctuations this week, but shares in Sega Sammy Holdings on both sides of the Pacific have surged and bucked the trend.
Both indexes reached 52 week highs on Wednesday. In the United States, that meant a share price of $5.22 a share before closing a penny below that at $5.21. That’s still about a 3 percent increase on the day. In all, the stock has risen more than 5.5 percent from Monday’s open.
In Japan, shares of Sega Sammy on Japanese stock exchanges closed Wednesday at ¥2,178 a share but hit a high during the day of ¥2,199 a share. Both are well above the stock’s 52 week high in the country. There, Sega Sammy stock is up more than 46 percent on the year.
The stock surge may indicate investor confidence in a good FY2013 earnings result for the mothership. Once those facts and figures are released, we will pass them along.