Megaport stock jumps 30pc as short-sellers squeezed
Updated
Short-sellers were squeezed by a rally in shares of cloud connectivity provider Megaport on Tuesday, as investors rewarded the tech company’s cost-cutting program.
Megaport shares jumped 28 per cent to $12.48, after the Brisbane-based company beat its quarterly earnings target and flagged the addition of a large US-based healthcare customer worth $4.2 million over three years.
Loading...
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Technology
Fetching latest articles