The week ended with smiles on the faces of Honeywell Flour Mills' investors as the company gained a total of N3.57 billion in market capitalization.
The company's stock had a bullish run in the markets this week, recording gains for four consecutive days from Tuesday, 10th of August to Friday, 13th of August 2021. On Friday alone, the stock gained N1.43 billion in market capitalization after it closed 9.63 percent.
The company's market capitalization has now broken to a new 52-week high of N16.26 billion according to data from the Nigerian Exchange (NGX) as its stock closed the week at N2.05 per share.
Honeywell Flourmills Plc has had quite an impressive run as its shares have gained 70.83% from the beginning of this year, starting the year at N1.20 and currently traded at N2.05. For perspective, this means that as of today, this stock has outperformed bitcoin, the largest cryptocurrency which has gained 58 percent as of report time.
The shares have also returned about 132.95% gains for investors who bought them at their 52-week low trading price of N0.88 per share.
Investors are now rushing to grab a piece of the cake as 15,486,569 ordinary shares of Honeywell Flourmills Plc worth about N31.64 million, were exchanged in 259 executed deals on Friday.
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