Petards mystified as to reason for Thursday share price spike

Petards Group issued a statement on its share price on Friday, after the company’s stock spiked to a high of 19.4p on Thursday afternoon, from an opening price of 16.5p.

The AIM-traded firm’s price then fell back, closing at 16.1p on Thursday afternoon.

It said it was not aware of any specific reason for the “significant increase” in its statement.

“[We are also not] aware of any material developments beyond those previously notified to the market,” the board said.

At 1202 GMT, shares in Petards Group were down 6.96% at 16.98p.