Lumber Depot’s stock price has soared since the market opened on Monday, December 6, 2021. This follows from news released last week that listed entity Mayberry Jamaican Equities (MJE) sold off its remaining position in the company to the Musson Investment Group controlled by Paul Scott.
This news broke Friday, December 3, 2021, via ICInsider and the effects on the market followed on today’s open where investors were seemingly bullish.
Investor activity saw the stock price fluctuate between a range from its $3.15 open price to a daily high of $3.50, the last traded price recorded was however $3.32 which saw a 20.68% week-to-date rise in the stock price.
The company’s revenues are expected to climb further upwards amid the construction boom, the Covid-19 pandemic, and also further increases in the global cost of lumber which is expected to keep growing with its demand.
The Chairman of Mayberry Investments Limited Chris Berry took to Twitter to provide hope for investors with a tweet that reads “I expect the stock to hit $3.50 before year-end… hang on”
