At time of writing, Vita Group Limited [ASX:VTG] is up 22.4% today, trading at $1.065 per share. The rise in its share price offsets a small portion of some steep losses sustained this year, down from a high of $1.91 on January 16.
Telstra Corp [ASX:TLS] isn’t the most loved stock this year. After a capital allocation review, Telstra decided to drop their payout ratio from close to 100% to between 70–90% of underlying earnings.
Shares in Vita Group Ltd [ASX:VTG] have opened 22.4% higher today in early trade. What caused the steep rise?