What happened to the iSentia share price?
Shares of iSentia [ASX:ISD] rose over 5% today. iSentia is a ‘media intelligence’ company, with a range of software-as-a-service platforms. The company is a small cap stock.
Why did ISD shares rise?
iSentia suffered a major fall recently. On 22nd February, the company announced its first half results and a trading update. It was a poor result in terms of the market’s expectations. The stock fell heavily in the wake of this update. The stock closed at $2.78 on 22 February. It finished at $1.45 at the end of last week.
What now for iSentia?
There’s been no official news of note since the last trading update. One possibility for today’s rise is that the stock has fallen so hard that bargain hunters and value investors are now prepared to accumulate the stock.
Otherwise, it’s possible the market is beginning to price in some news that isn’t public yet. Usually after a bad trading update, a stock will take considerable time to come back into the market’s favour. iSentia is one stock I’d avoid until a better, clearer picture emerges of the company’s outlook.