Fri 25 Aug 2017 14:39

Quadrise 'knows of no specific reason' for share price drop following rally


Share value falls more than 20% on Friday, but is still up almost 50% since the start of the week.

Quadrise Fuels International Plc (QFI), the emerging supplier of MSAR emulsion technology and fuel, said on Friday that "it knows of no specific reason" for recent movements in the company's share value, which saw the price drop by around 20 percent prior to the release of the company's statement this morning.

At the time of writing (14:10 GMT), Quadrise shares were down almost 27 percent to 4.40 pence per share on the London Stock Exchange, having closed at 6.01 pence per share the previous day.

However, it also should be noted that between Monday and Thursday, the share price actually doubled from 3.0 pence to yesterday's closing figure, having peaked at 6.25 pence earlier that day; and Quadrise's value is still up around 47 percent since the start of the week.

Quadrise's 52-week trading range is currently 2.32 - 14.31 pence.

The UK firm is due to announce its final results for the year ended 30 June, 2017, in October.
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