The good news is there appears to be a floor stopping Billabong’s two-day free fall. Yes, on Wednesday, December 21, 2011 shares bounced up 10.16 percent to close at $1.95, according to a story on Business Spectator.
Surfwear retailer and manufacturer Billabong International Ltd has lifted over 10 per cent, clawing back some of its massive losses from earlier in the week.
And though it’s not exactly back in solid terrain, at least the stock didn’t fall below a dollar. That may be thanks to IOOF Holdings 1.1 million share purchase on Monday, December 19, 2011.
[Link: Business Spectator]
