Business

Company Legitimately Dumbfounded Its Stock Surged 38 Percent

Shares in the fledgling Hong Kong-based commodity trading organization Noble Group soared 38 percent in Singapore markets Wednesday and the company had no explanation for the phenomenon.

The company is not aware of any information not previously announced concerning the company, its subsidiaries or associated companies which might explain the trading,” Noble said in response to a question from the Singapore Exchange, Reuters reported¬†Thursday. “The company is not aware of any other possible explanation for the trading.”

Stocks in the company jumped 38 percent to 65 Singapore cents. While Wednesday’s news is definitely a boon to company spirits, Noble Group’s stock is still down over 60 percent in 2017.

The U.S. stock market closed at a loss across all three major indexes Wednesday. The Dow Jones Industrial Average closed down 0.34 percent, losing 72.45 points on the day. The NASDAQ and S&P 500 were down also, closing with double-digit point loses.

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